Chinese Bright Copper Scrap Gaining Again

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After two changeless days, the price of Chinese bright copper scrap closed at CNY 48,800 ($7,837) per metric ton on Jan. 9, 2013. After two changeless days, the price of Chinese copper bar fell 0.1 percent to CNY 58,400 ($9,379) per metric ton. Wednesday saw the Chinese copper cash price drift down 0.1 percent to CNY 58,600 ($9,411) per metric ton after a couple of stagnant days. Chinese copper wire saw little change in its price on Wednesday at CNY 57,560 ($9,244) per metric ton.

The price of US copper producer grade 122 fell 0.2 percent to $4.29 per pound. The price of US copper producer grade 110 saw a 0.2 percent decline to $4.29 per pound. The price of US copper producer grade 102 weakened by 0.2 percent, settling at $4.48 per pound. The cash price of primary Japanese copper remained essentially flat at JPY 640,000 ($7,367) per metric ton.

Following a 0.7 percent rise on Wednesday, the copper 3-month price closed on the LME at $8,050 per metric ton. After falling for two days, the primary copper cash price rose 0.7 percent on the LME to $8,085 per metric ton.

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