The copper scrap market in the United States is beginning to show signs of a renewed supply and demand equilibrium, propelled largely by aggressive offshore demand that has helped whittle down the supply accumulation witnessed in the fourth quarter."The oversupply of scrap seen since November is just beginning to come more in balance. China is buying all the [No 2 copper scrap] they can find, and are now heating up on chops. Their appetite for these items is helping draw down excess domestic inventories," one consumer said.
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