Chinese Bright Copper Scrap Moves Down 3.9%

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Metal Prices, Premium

The price of Chinese bright copper scrap fell 3.9 percent on April 1, 2013, making it the day’s biggest mover. After three days of flat prices, it closed at CNY 45,590 ($7,337) per metric ton. Chinese copper bar ended the day at CNY 55,370 ($8,911) per metric ton, after the 1.4 percent drop on Monday. The Chinese copper cash price saw a 1.4 percent decline to CNY 55,570 ($8,943) per metric ton. Chinese copper wire closed 1.3 percent lower at CNY 54,495 ($8,770) per metric ton.

After remaining flat for three days, the price of US copper producer grade 122 fell 1.0 percent yesterday to $4.03 per pound. The price of US copper producer grade 110 fell 1.0 percent on Monday to $4.03 per pound after three straight days with no change. The price of US copper producer grade 102 moved yesterday. After a few changeless days, prices dropped 0.9 percent to $4.22 per pound. The cash price of primary Japanese copper saw little movement at JPY 640,000 ($6,789) per metric ton.

On the LME, the copper 3-month price saw little change in its price yesterday at $7,613 per metric ton. After dropping for two days on the LME, the cash price of primary copper flattened at $7,582.