Latest Update in the SMM Copper Scrap Market

SMM, Oct 8: According to SMM data, in September 2024, the comprehensive PMI index for China's aluminum processing industry recorded 61.7%, up 18.1 percentage points MoM, marking the first return above the 50 mark since May.

The principles of supply and demand play a crucial role in the fluctuations of Aluminum Scrap Prices. Demand levels often vary with seasonal changes. For example, the demand for aluminum may rise during warmer months due to increased construction activities. On the supply side, industrial output has a significant impact. Industries that heavily rely on aluminum, such as automotive and aerospace, can increase production, which in turn affects the availability of scrap aluminum.

To comprehend the intricacies of copper scrap and the factors influencing its market, one must first recognize the importance of copper in various industries. Copper is a versatile metal widely used in electrical wiring, plumbing, telecommunications, and countless other applications due to its excellent conductivity and malleability. The recycling of copper scrap plays a crucial role in meeting the demand for this essential material.

Scrap metals include a variety of metal materials that have lost their usefulness in their original state. These can range from household items like aluminum cans to industrial components such as copper wiring. Scrap metals can be classified into different types, including ferrous metals such as iron and steel, which are magnetic, and non-ferrous metals like aluminum, copper, lead, zinc, and precious metals. Each category of scrap metal has unique properties and market values, making proper classification essential for recycling and resale purposes.

On April 7, the coking cost was 2,361.5 yuan/ton, which was temporarily stable compared with the previous trading day.

The State Council issued the Action Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods:

Scrap metal plays a vital role in the recycling industry, contributing to environmental sustainability and economic benefits. Scrap metal prices are dynamic and changing. They are affected by various factors. Let’s have a deeper look at what factors influence scrap metal prices and what individuals and industries should pay attention to under this change.

On 29 December 2023, the NDRC of China announced Catalogue for Guiding Industry Restructuring (2024 Version), which will be implemented on 01 February 2024 and replace the Catalogue for Guiding Industry Restructuring (2019 Version). Compared to 2019 version, there are some changes in nonferrous metals industries.