Latest Update in the SMM Copper Scrap Market

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.

The above-mentioned minerals are on the US government’s critical minerals list. U.S. is 100% import dependent for arsenic, bismuth, fluorspar, gallium, indium, manganese, niobium, scandium, tantalum, titanium, yttrium and rare earths.

SMM data：Chinese refined tin output in August 2023

SMM SiMn industry data

Russian Deputy Prime Minister Alexander Novak said that the current Brent crude oil price of $75-76/bbl reflects the market's assessment of the global macroeconomic situation.