SMM

As of Wednesday June 21, the weekly average price of bare bright copper rose by 1,033 yuan/mt to 63,333 yuan/mt. Copper scrap traders sold at highs, growing supply of copper scrap. The high absolute copper price strengthened the substitution of copper rod produced with copper cathode by copper rod produced with copper scrap, growing demand for copper scrap. The supply of copper scrap remained ample.