Chinese Copper Wire Prices Hit 30-Day Low

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Metal Prices, Premium

With a decline of 4.9 percent to CNY 50,680 ($8,208) per metric ton on Thursday, April 18, Chinese copper wire recorded the biggest price drift of the day. The price of Chinese copper bar fell 4.8 percent to a thirty-day low of CNY 51,650 ($8,365) per metric ton yesterday. On Thursday’s price drop of 4.8 percent carried the cash price of Chinese copper to a thirty-day low of CNY 51,850 ($8,397) per metric ton. Chinese bright copper scrap stayed flat at around CNY 43,860 ($7,103) per metric ton.

The price of US copper producer grade 122 reached a thirty-day low after decreasing 3.0 percent to $3.84 per pound. After falling 3.0 percent to $3.84 per pound, the price of US copper producer grade 110 reached a thirty-day low. US copper producer grade 102 saw its price drop 2.9 percent to a thirty-day low of $4.03 per pound yesterday. The Japanese copper cash price flattened at JPY 723,000 ($7,375) following two-days of declines.

The copper 3-month price fell to a thirty-day low at $7,090 per metric ton after shifting 2.2 percent. The cash price of primary copper fell 2.1 percent to a thirty-day low on the LME of $7,065 per metric ton on Thursday.