Chinese Bright Copper Scrap Moving Again

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On Feb. 25, 2013, the day’s biggest mover was the price of Chinese bright copper scrap, which saw a 2.9 percent decline to CNY 47,430 ($7,622) per metric ton. The price of Chinese copper wire fell 0.5 percent to CNY 56,970 ($9,156) per metric ton. At CNY 57,870 ($9,300) per metric ton, Chinese copper bar fell 0.4 percent on Monday. The Chinese copper cash price fell 0.4 percent to CNY 58,070 ($9,332) per metric ton.

The price of US copper producer grade 122 weakened by 0.7 percent, settling at $4.16 per pound. The price of US copper producer grade 110 saw a 0.7 percent decline to $4.16 per pound. The price of US copper producer grade 102 declined 0.7 percent to $4.35 per pound. The cash price of primary Japanese copper saw little movement at JPY 640,000 ($6,791) per metric ton.

The cash price of primary copper on the LME has been on the decline for 7 days and is now at $7,820 per metric ton. The copper 3-month price on the LME has been on the decline for 7 days and is now at $7,848 per metric ton.