Chinese Copper Scrap Price Breaks Flat Spell, Plunges Over 7%

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Following a three-day flat streak, the price of Chinese bright copper scrap plunged by 7.1 percent on Tuesday, April 16.

The price of Chinese copper wire fell 2.0 percent to a thirty-day low yesterday. Tuesday’s price drop of 1.9 percent carried the price of Chinese copper bar to a thirty-day low as well. After falling 1.9 percent, the cash price of Chinese copper reached a thirty-day low.

today's metal prices - MetalMiner IndXOn the other hand, the cash price of primary Japanese copper reached a thirty-day high after a 3.6 percent jump. The price of US copper producer grade 122 saw a 1.7 percent decline. The price of US copper producer grade 110 fell 1.7 percent as well, and so did the price of US copper producer grade 102.

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.