Chinese Bright Copper Scrap Rises 1.0%

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Metal Prices, Premium

On Thursday, July 4, Chinese bright copper scrap jumped up 1.0 percent, landing at CNY 43,410 ($7,085) per metric ton and making it the day’s biggest increase. Chinese copper wire saw its price rise 0.1 percent to CNY 50,735 ($8,280) per metric ton. After a couple of days of improving prices, the price of Chinese copper bar held steady at CNY 51,650 ($8,429). The cash price of Chinese copper steadied at CNY 51,850 ($8,462) per metric ton following two-days of increases.

At $3.84, the price of US copper producer grade 122 finished the market day up 0.8 percent per pound. The price of US copper producer grade 110 increased 0.8 percent to $3.84 per pound. The price of US copper producer grade 102 gained 0.8 percent to finish at $4.03 per pound. After a 0.3 percent increase, the Japanese copper cash price finished the day at JPY 727,000 ($7,285) per metric ton.

Weakening prices followed two days of improvement as the cash price of primary copper dropped 0.8 percent on the LME to $6,921 per metric ton. The 3-month price of copper declined 0.4 percent on the LME to $6,920 per metric ton, after two days of improvement.