1.9% Shift for Chinese Bright Copper Scrap

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Metal Prices, Premium

Closing at CNY 44,910 ($7,319) per metric ton on the Thursday, May 9, Chinese bright copper scrap rose 1.9 percent to finish as the day’s biggest mover. Chinese copper wire finished the day up 0.5 percent to CNY 53,630 ($8,741) per metric ton. Chinese copper bar gained 0.4 percent to finish at CNY 54,480 ($8,879) per metric ton. The cash price of Chinese copper gained 0.4 percent to finish at CNY 54,680 ($8,912) per metric ton.

The price of US copper producer grade 122 rose 1.8 percent to $4.04 per pound. At $4.04, the price of US copper producer grade 110 finished the market day up 1.8 percent per pound. After a 1.7 percent increase, the price of US copper producer grade 102 finished the day at $4.23 per pound. The Japanese copper cash price fell 0.3 percent to JPY 743,000 ($7,515) per metric ton.

On the LME, the cash price of primary copper increased 1.2 percent to $7,325 per metric ton. Also on the LME, the 3-month price of copper inched up 1.2 percent to $7,355 per metric ton.