Malaysian recycler and trader CSTME has entered into a scrap supply deal worth MYR1.3bn ($303mn) with construction firm Anzo for various copper grades.
According to media reports, CSTME will purchase copper scrap from Anzo in grades ranging from candy and berry to birch (or cliff).
Under the agreement, Anzo will supply 60,000mt of copper scrap to CSTME at the rate of MYR 23,000/mt ($5,367.50/mt) for a period of 40 months. Anzo said the deal would strengthen its trading business and diversify its income stream since it’s posted losses over the past few quarters.
Both companies also entered into a contract a week ago to supply berry and candy grade copper scrap to South Korea.
($1 = MYR 4.28)