Chinese Bright Copper Scrap Gains 4.1%

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Metal Prices, Premium

Chinese bright copper scrap saw a 4.1 percent increase on April 2, 2013, reaching CNY 47,460 ($7,650) per metric ton and making it the biggest upwards shift of the day. Following a two-day drop, the price of Chinese copper wire increased by 0.4 percent to CNY 54,725 ($8,821) per metric ton. After falling for two days, the price of Chinese copper bar rose 0.3 percent to CNY 55,550 ($8,954) per metric ton. The cash price of Chinese copper is back up, rising by 0.3 percent on Tuesday to close at CNY 55,750 ($8,986) per metric ton.

The price of US copper producer grade 122 weakened by 0.7 percent, settling at $4.00 per pound. The price of US copper producer grade 110 fell 0.7 percent to $4.00 per pound. The price of US copper producer grade 102 saw a 0.7 percent decline to $4.19 per pound. The cash price of primary Japanese copper remained essentially flat at JPY 640,000 ($6,867) per metric ton.

On the LME, the 3-month price of copper saw little change in its price yesterday at $7,613 per metric ton. The primary copper cash price saw little movement on Tuesday on the LME, closing out around $7,582 per metric ton.