Proposal to launch three new Chinese copper scrap grades, increase frequency

Fastmarkets02-04 13:00

The proposal to increase the publication frequency from monthly to weekly comes amid increased volatility of copper on the London Metal Exchange, while copper scrap discounts have been shifting on a ...

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This more frequent assessment will enable Fastmarkets to reflect market dynamics in a timelier manner, as well as capture more spot […]","collect":0,"end_time":0,"defaultTopTitle":"fastmarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"COPJ":"SPROTT JUNIOR COPPER MINERS ETF","CPER":"美国铜指数基金","CPXR":"USCF DAILY TARGET 2X COPPER INDEX ETF"},"translate_title":"建议推出三个新的中国废铜牌号，增加频率","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPXR":1.5,"CPER":1.5,"MHGmain":1.5,"QCmain":1.5,"COPJ":1.5},"content_text":"The proposal to increase the publication frequency from monthly to weekly comes amid increased volatility of copper on the London Metal Exchange, while copper scrap discounts have been shifting on a more regular basis.\nThis more frequent assessment will enable Fastmarkets to reflect market dynamics in a timelier manner, as well as capture more spot liquidity.\nAs Chinese imports have shifted away from direct US imports in the past year, Fastmarkets is also proposing to align the publication schedule with the LME calendar rather than the COMEX calendar. The new schedule will also come in line with our existing CIF Shanghai copper cathode assessments and CIF Asia Pacific copper concentrates treatment and refining charges (TC/RC) indices.\nIn addition, as manufacturing focus shifts toward semiconductors, electric vehicles (EVs) and renewable energy, Chinese importers have been moving into larger-scale consolidated production, with higher scrap purity requirements and more precision needed in their calibration of their primary-secondary feedstock ratio.\nAs such, Fastmarkets is proposing to add a price assessment for millberry — also known as bare bright copper wire scrap — and two new copper nodules grades: clove and cobra.\nThe new specifications will reflect China’s updated national standards document GB/T 38471-2023, rather than the obsolete GB/T 38471-2019 standard.\nThe proposed amendments, noted in italics, are as follows:\nMB-CU-0512 No1 copper wire/material, RCu-2A,1B (candy/berry), cif China, LME discount, US cents per lbQuality: Definitions of RCu-2A and RCu-1B as stipulated in China’s GB/T 38471-2023 document. RCu-2A (#1 copper materials, ISRI code candy) requires a minimum copper content of 99.2%, less than 0.5% non-metallic inclusions, and less than 0.2% hazardous content. RCu-1B (#1 copper wire, ISRI code berry) requires a minimum copper content of 99%, less than 0.5% non-metallic inclusions, and less than 0.2% hazardous contentQuantity: Min 25 tonnesLocation: cif Chinese ports (Shanghai, Guangdong, Zhejiang, Tianjin, Shandong)Timing: Within 5 weeksUnit: US cents/lbPayment: Cash against documents, letter of credit, telegraphic transfer; other terms normalizedPublication:Weekly, Monday. 3-4pm UK time.\nMB-CU-0360 No2 copper wire/material, RCu-1C, 2B (birch/cliff), cif China, LME discount, US cents per lbQuality: Definitions of RCu-1C and RCu-2B as stipulated in China’s GB/T 38471-2023 document. RCu-1C (#2 copper wire, ISRI code birch) requires a minimum copper content of 97%, less than 0.8% non-metallic inclusions, and less than 0.3% hazardous content. RCu-2B (#2 copper materials, ISRI code cliff) requires a minimum copper content of 97%, less than 0.8% non-metallic inclusions, and less than 0.3% hazardous content.Quantity: Min 25 tonnesLocation: cif Chinese ports (Shanghai, Guangdong, Zhejiang, Tianjin and Shandong)Timing: Within 5 weeksUnit: US cents/lbPayment: Cash against documents, letter of credit, telegraphic transfer; other terms normalizedPublication:Weekly, Monday. 3-4pm UK time.\nIn addition, the Fastmarkets is proposing to launch the following grades:\nBare bright copper wire, RCu-1A (barley/millberry), cif China, LME discount, US cents per lbQuality: Definitions of RCu-1A as stipulated in China’s GB/T 38471-2023 document. RCu-1A (bare bright wire, ISRI code barley, also known as millberry) requires a minimum copper content of 99.7%, less than 0.3% non-metallic inclusions, and less than 0.2% hazardous content.Quantity: Min 25 tonnesLocation: cif Chinese ports (Shanghai, Guangdong, Zhejiang, Tianjin, Shandong)Timing: Within 5 weeksUnit: US cents/lbPayment: Cash against documents, letter of credit, telegraphic transfer; other terms normalizedPublication: Weekly, Monday. 3-4pm UK time.\nNo1 copper wire nodules, RCu-3A (Clove), cif China, LME discount, US cents per lbQuality: Definitions of RCu-3A as stipulated in China’s GB/T 38471-2023 document. RCu-3A (#1 copper nodules, ISRI code clove) requires a minimum copper content of 99.7%, less than 0.3% non-metallic inclusions, and less than 0.2% hazardous content.Quantity: Min 25 tonnesLocation: cif Chinese ports (Shanghai, Guangdong, Zhejiang, Tianjin, Shandong)Timing: Within 5 weeksUnit: US cents/lbPayment: Cash against documents, letter of credit, telegraphic transfer; other terms normalizedPublication: Weekly, Monday. 3-4pm UK time.\nNo2 copper wire nodules, RCu-3B (Cobra), cif China, LME discount, US cents per lbQuality: Definitions of RCu-3B as stipulated in China’s GB/T 38471-2023 document. RCu-3B (#2 copper nodules, ISRI code cobra) requires a minimum copper content of 98%, less than 0.8% non-metallic inclusions, and less than 0.3% hazardous content.Quantity: Min 25 tonnesLocation: cif Chinese ports (Shanghai, Guangdong, Zhejiang, Tianjin, Shandong)Timing: Within 5 weeksUnit: US cents/lbPayment: Cash against documents, letter of credit, telegraphic transfer; other terms normalizedPublication: Weekly, Monday. 3-4pm UK time.\nThese prices form part of the Fastmarkets scrap package.\nThe consultation period for this proposed launch and amendment starts from February 5 and will end on March 9. The launch and amendments will take place, subject to market feedback, with the first publication on March 16.\nTo provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact pricing@fastmarkets.com and metalsrecycling@fastmarkets.com. Please add the subject heading “re: CIF China copper scrap.”\nPlease indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.\nTo see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2609269311","isCrawlerRequest":true}