Chinese Bright Copper Scrap Price Improves

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Metal Prices, Premium

The day’s biggest mover broke away from a static phase with a 6.7 percent jump on Monday, July 22. After three changeless days, the price of Chinese bright copper scrap closed at CNY 44,400 ($7,236) per metric ton. Chinese copper wire saw its price rise 0.6 percent to CNY 50,975 ($8,307) per metric ton. At CNY 51,950 ($8,466), the price of Chinese copper bar finished the market day up 0.4 percent per metric ton. The Chinese copper cash price gained 0.4 percent to finish at CNY 52,150 ($8,499) per metric ton.

The Japanese copper cash price rose 1.3 percent to JPY 726,000 ($7,232) per metric ton. The price of US copper producer grade 122 held steady yesterday, remaining around $3.81 per pound. The price of US copper producer grade 102 showed little movement on Monday, hovering around $4.00 per pound. The price of US copper producer grade 110 showed little movement yesterday at $3.81 per pound.

Following a 0.9 percent rise yesterday, the primary copper cash price closed on the LME at $6,920 per metric ton. The 3-month price of copper rose 0.6 percent on the LME to $6,925 per metric ton after a two-day drop.