世界上最大的铜矿中有三个同时面临供应中断，但是你永久不可能从市场上感遭到。根据世界第二大电缆生产商耐克森公司（Nexans SA）的数据，精炼铜和废铜的供应量有所增加，尤其是废铜大量涌入市场，因为价格上涨。该公司的有色金属采购经理Christophe Allain指出。
渣打银行（Brand Chartered Plc）分析师NicholasSnowdon本周在德国莱比锡召开的Metal Bulletin Ltd.会议上表示。
Deluge of Scrap Copper Feeding Market Hit by Top Mine Stoppages
Three of the worlds top copper mines face simultaneous disruptions, but youd never guess it by talking to big users of the pply of both refined copper cathode and scrap metal has increased, according to Nexans SA, the second-largest producer of electric cables. Scrap in particular has flooded into the market as dealers rushed to cash in on rallying prices, said Christophe Allain, the companys purchasing manager for non- ferrous metals.
The increased supply adds to already conflicting signals for copper, as traders weigh the impact of interruptions at mines in Chile, Indonesia and Peru against slowing Chinese demand growth. While last weeks surge in stockpiles tracked by the LondonMetal Exchange suggested an excess of the metal used in pipes and wires, orders to withdraw copper from storage also rose sharply.
Its clear that theres been a significant increase in scrap supply into the physical market over the past six months and obviously that is a pretty material supply risk, NicholasSnowdon, an analyst at Standard Chartered Plc, said this week at a Metal Bulletin Ltd. conference in Leipzig, Germany.
Aurubis AG, the worlds largest copper recycler, processed 36 percent more scrap in the three months through December compared with a year earlier, as availability increased. The company uses old metal to make copper cathode used in copper
wire rod, tubes and rNexans, metal availability and purchasing terms are themost favorable theyve been in years, Allain said in an interview at the conference. While the Paris-based company buys only small volumes of scrap, its benefited from a surge in supply of copper cathode because other buyers are turning to scrap instead.
Copper for delivery in three months gained 0.6 percent to $5,853 a metric ton by 4 p.m. on the London Metal Exchange on Wednesday, bringing the increase for the past 12 months to 18 percent.
While some copper dealers need to sell scrap continually to generate cash, others can wait for higher prices, Allain said. A lot of that metal has now been entering the market, he said. Users are seeing ample supplies even as a strike at the Escondida mine in Chile, the worlds largest, extends into a second month and exports from the Grasberg mine in Indonesia remain halted.
Inventories of lower-grade forms of copper cathode that cant be delivered on to exchanges have been increasing as well,Allainsaid.I believe we have a surplus of cathode today, he said. Theres a lot of standard-grade material that people have a lot of difficulty accounting for; if you add scrap to that, the surplus is even bigger.