Chinese Bright Copper Scrap Hits 30-Day Low

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Metal Prices, Premium

On Thursday, June 27, the day’s biggest mover was the price of Chinese bright copper scrap, which saw a 2.6 percent decline to CNY 40,050 ($6,499) per metric ton. After a 0.3 percent increase, Chinese copper wire finished the day at CNY 49,300 ($8,000) per metric ton. Chinese copper bar held its value on Thursday at CNY 50,200 ($8,146) per metric ton. The cash price of Chinese copper saw little price change on Thursday at CNY 50,400 ($8,179) per metric ton.

The Japanese copper cash price rose by 1.2 percent to JPY 693,000 ($7,095) yesterday after remaining flat for two days. The price of US copper producer grade 122 weakened by 0.8 percent, settling at $3.71 per pound. The price of US copper producer grade 110 saw a 0.8 percent decline to $3.71 per pound. The price of US copper producer grade 102 declined 0.8 percent to $3.90 per pound.

The copper 3-month price saw a 0.7 percent decline on the LME to $6,715 per metric ton. Also on the LME, the primary copper cash price declined 0.6 percent to $6,685 per metric ton.