SMM

Prices of #1 bare bright copper without invoices averaged 62,660 yuan/mt as of Friday March 24, down 180 yuan/mt from a week earlier. The average price spread between copper cathode and copper scrap expanded 130 yuan/mt to 1,772 yuan/mt. Higher copper prices and low absolute prices of copper scrap incentivised purchases by copper rod factories using copper scrap as raw materials.