The recovery in refined copper prices towards $7,000/t did help increase the availability of copper scrap in May, although the market remains fundamentally tight, especially in Europe. On 12th May, refined copper prices posted 2% gains, breaking the $7,000/t boundary a week later. Prices have remained around the $7,000/t mark since then, helping improve the availibility of No. 2 scrap, predominately as smaller scrap merchants used the opportunity to release stock and generate cashflow.
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