Chinese Copper Scrap Price Busts Out From 30-Day Low

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Strengthening prices ended a two-day flat streak as the price of Chinese bright copper scrap moved up by 7.4 percent on Tuesday, July 2. Chinese copper wire gained 2.4 percent. Chinese copper bar prices inched up 2.3 percent. The cash price of Chinese copper rose 2.3 percent.

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The price of US copper producer grade 122 rose 2.7 percent. The price of US copper producer grade 110 inched up 2.7 percent. The price of US copper producer grade 102 gained 2.6 percent. After a 0.9 percent increase, the cash price of primary Japanese copper finished the day higher.

The primary copper cash price finished the market day on the LME up 2.4 percent per metric ton. Also on the LME, the copper 3-month price rose 2.1 percent to $6,918 per metric ton.