Daily Copper Roundup: Chinese Bright Scrap Price Falls 5%

The day’s biggest price mover on copper markets, Chinese bright copper scrap, broke away from its dormant phase with a 4.8 percent drop on May 15, 2012, after three changeless days.

Meanwhile, the price of Chinese copper wire fell 1.7 percent. Chinese copper bar stayed flat, holding below $9,200 per metric ton. The Chinese primary copper cash price saw little movement yesterday on the SHFE, closing out around CNY 58,250 ($9,213) per metric ton.

The Japanese primary copper cash price saw a 0.9 percent decline. The 3-month price of primary copper weakened by 1.8 percent on the LME, settling at $7,850 per metric ton. Also on the LME, the cash price of primary copper fell 1.2 percent to $7,980 per metric ton.

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