Chinese Bright Copper Scrap Falls 10.0%

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Metal Prices, Premium

 The price of Chinese bright copper scrap fell 10.0 percent on Friday, June 21 to CNY 40,470 ($6,601) per metric ton, making it the day’s biggest mover. After falling 1.5 percent to CNY 50,070 ($8,166) per metric ton, the price of Chinese copper wire reached a 30-day low. The price of Chinese copper bar fell to a 30-day low at CNY 51,100 ($8,334) per metric ton after shifting 1.3 percent. The cash price of Chinese copper reached a 30-day low after decreasing 1.3 percent to CNY 51,300 ($8,367) per metric ton.

US copper producer grade 122 saw its price drop 2.1 percent to a 30-day low of $3.73 per pound last Friday. The price of US copper producer grade 110 fell 2.1 percent to a 30-day low of $3.73 per pound last Friday. Last Fridaylast Friday price drop of 2.0 percent carried the price of US copper producer grade 102 to a 30-day low of $3.92 per pound. Friday saw the cash price of primary Japanese copper drift down 0.1 percent to JPY 698,000 ($7,192) per metric ton after a couple of stagnant days.

The 3-month price of copper fell 2.4 percent to a 30-day low on the LME of $6,835 per metric ton last Friday. The cash price of primary copper fell to a 30-day low at $6,808 per metric ton after shifting 2.4 percent.