Daily Copper Price Roundup: Chinese Bright Scrap Drifts

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On May 30, 2012, the day’s biggest mover on global copper markets was the price of Chinese bright copper scrap, which saw a 2.9 percent decline.

The price of Chinese copper wire, following a couple days of improvement, fell by one percent. Chinese copper bar fell 0.8 percent yesterday. The cash price of Chinese copper also fell, weakening by 0.8 percent.

US producer prices and LME copper also showed movement.

The prices of US copper producer grades 122, 110 and 102 all finished the market day up 0.5 percent. The Japanese copper cash price saw little movement, remaining between $8,025 and $8,050 per metric ton.

Following a couple days of improvement, the cash price of primary copper weakened by 0.7 percent on the LME; the price closed at $7,685 per metric ton. Weakening prices followed two days of improvement for the LME copper 3-month price as well, which dropped 0.5 percent to $7,676 per metric ton.

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