Chinese Bright Copper Scrap Falls 3.5%

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Metal Prices, Premium

Closing at CNY 41,600 ($6,779) per metric ton on Tuesday, July 16, Chinese bright copper scrap saw the biggest change at a 3.5 percent. The price of Chinese copper wire declined 0.2 percent to CNY 50,520 ($8,232) per metric ton. At CNY 51,550 ($8,400), the price of Chinese copper bar finished the market day up 0.2 percent per metric ton. After a 0.2 percent increase, the cash price of Chinese copper finished the day at CNY 51,750 ($8,433) per metric ton.

The Japanese copper cash price gained 0.6 percent to finish at JPY 715,000 ($7,154) per metric ton. The price of US copper producer grade 122 weakened by 0.3 percent, settling at $3.83 per pound. The price of US copper producer grade 110 declined 0.3 percent to $3.83 per pound. The price of US copper producer grade 102 fell 0.2 percent to $4.02 per pound.

The primary copper cash price saw a 0.5 percent decline on the LME to $6,891 per metric ton. Also on the LME, the 3-month price of copper fell 0.3 percent to $6,919 per metric ton.