Fastmarkets to Launch Three New China Copper Scrap Grades, Increase Frequency

Why It Matters

Weekly pricing and additional grades give traders fresher data and finer price discovery, strengthening China’s influence on global copper scrap valuations.

Key Takeaways

• Publication frequency moves from monthly to weekly
• Three new grades: millberry, cobra, clove added
• Minimum contract size set at 25 tonnes
• Grades follow GB 38471‑2023 specifications
• Weekly releases scheduled Monday 3‑4 pm UK time

Pulse Analysis

China processes more than half of the world’s copper scrap, making its price benchmarks a bellwether for the global metals market. Fastmarkets, a leading provider of metal price information, announced that its CIF China copper scrap index will shift from a monthly to a weekly cadence. The change responds to heightened volatility in recycling volumes, freight costs, and environmental regulations that demand more timely price signals. By publishing every Monday at 3‑4 pm UK time, market participants can adjust contracts and hedges with fresher data, reducing information lag.

The weekly update also introduces three new scrap grades—millberry (RCu‑1A), cobra (RCu‑3B) and clove (RCu‑3A)—each defined under China’s GB 38471‑2023 standard. These grades fill gaps between existing No 1 and No 2 classifications, offering finer granularity on copper purity, non‑metallic inclusions, and hazardous content. With minimum transaction sizes of 25 tonnes and CIF delivery to major ports, the new categories give recyclers and downstream manufacturers clearer reference points for quality‑based pricing. The standardized specifications help align domestic trading practices with international benchmarks such as the LME discount.

More frequent, grade‑specific pricing is likely to sharpen price discovery across the entire copper supply chain. Traders can now track short‑term shifts in scrap quality and regional logistics, while smelters gain a more reliable input cost metric for primary copper production. The weekly cadence also supports tighter integration with LME futures, as the CIF China discount can be monitored and arbitraged in near real‑time. Over the longer term, this transparency may encourage investment in higher‑purity recycling streams, reinforcing China’s pivotal role in the transition to a circular economy.