After Flat Days, Chinese Bright Copper Scrap Drops 4.2%

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Weakening prices ended a three-day flat streak as the price of Chinese bright copper scrap fell 4.2 percent on Monday, April 22 to CNY 42,030 ($6,794) per metric ton. The price of Chinese copper bar fell 1.0 percent to a thirty-day low of CNY 51,580 ($8,337) per metric ton yesterday. On Monday’s price drop of 1.0 percent carried the Chinese copper cash price to a thirty-day low of CNY 51,780 ($8,369) per metric ton. Chinese copper wire finished the day down 0.8 percent to CNY 50,750 ($8,203) per metric ton.

US copper producer grade 122 saw its price drop 1.3 percent to a thirty-day low of $3.81 per pound on Monday. The price of US copper producer grade 110 fell to a thirty-day low at $3.81 per pound after shifting 1.3 percent. US copper producer grade 102 saw its price drop 1.2 percent to a thirty-day low of $4.00 per pound on Monday. At JPY 722,000 ($7,236), the cash price of primary Japanese copper finished the market day up 0.4 percent per metric ton.

After falling for two days, the copper 3-month price rose 0.2 percent on the LME to $7,009 per metric ton. Following a two-day drop, the cash price of primary copper increased by 0.2 percent on the LME to $6,975 per metric ton.