Global copper scrap supply tightens as Japan limits exports, Tracy Shuchart warns

Global copper scrap supply tightens as Japan limits exports, Tracy Shuchart warns
Japan restricts copper scrap exports

Tracy Shuchart, independent trader and strategist, highlights that global copper scrap supplies are facing tightening conditions as Japan, responsible for about 7% of exports, is withholding premium copper scrap for its domestic smelters.

This development is attributed to low treatment and refining charges as well as concentrate market dynamics.

Shuchart recently noted that Japan’s Idemitsu Kosan purchased 4 million barrels of U.S. crude oil for August delivery. This brought Japan's total U.S. crude oil imports to 12 million barrels. She has also reported that the Saudi wealth fund launched multi-tranche U.S. dollar bonds following the Iran conflict.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.