Chinese Bright Copper Scrap Increases 5.2%

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Metal Prices, Premium

On Thursday, July 11, Chinese bright copper scrap jumped up 5.2 percent, landing at CNY 43,210 ($7,043) per metric ton and making it the day’s biggest increase. Chinese copper wire saw its price rise 2.9 percent to CNY 50,775 ($8,277) per metric ton. Chinese copper bar finished the day up 2.5 percent to CNY 51,620 ($8,414) per metric ton. The Chinese copper cash price gained 2.5 percent to finish at CNY 51,820 ($8,447) per metric ton.

The price of US copper producer grade 122 increased 0.8 percent to $3.77 per pound. At $3.77, the price of US copper producer grade 110 finished the market day up 0.8 percent per pound. After a 0.8 percent increase, the price of US copper producer grade 102 finished the day at $3.96 per pound. The cash price of primary Japanese copper saw little movement on Thursday, closing out around JPY 720,000 ($7,270) per metric ton.

The cash price of primary copper rose 0.9 percent on the LME to $6,780 per metric ton after a two-day drop. Following a 0.8 percent rise yesterday, the 3-month price of copper closed on the LME at $6,785 per metric ton.