Chinese Bright Copper Scrap Breaks Flat Spell

by on
Style:
Category:
Metal Prices, Premium

Following a three-day flat streak, the price of Chinese bright copper scrap dropped by 7.1 percent to end at CNY 43,860 ($7,088) per metric ton on Tuesday, April 16. The price of Chinese copper wire fell 2.0 percent to a thirty-day low of CNY 52,920 ($8,552) per metric ton yesterday. On Tuesday’s price drop of 1.9 percent carried the price of Chinese copper bar to a thirty-day low of CNY 54,050 ($8,735) per metric ton. After falling 1.9 percent to CNY 54,250 ($8,767) per metric ton, the cash price of Chinese copper reached a thirty-day low.

The cash price of primary Japanese copper hit JPY 757,000 ($7,819) per metric ton, reaching a thirty-day high after a 3.6 percent jump. The price of US copper producer grade 122 saw a 1.7 percent decline to $3.93 per pound. The price of US copper producer grade 110 fell 1.7 percent to $3.93 per pound. The price of US copper producer grade 102 declined 1.7 percent to $4.12 per pound.

The 3-month price of copper reached a thirty-day low on the LME after decreasing 5.2 percent to $7,155 per metric ton. Primary cash copper saw its price drop on the LME 5.2 percent to a thirty-day low of $7,120 per metric ton on Tuesday.