Chinese Bright Copper Scrap Increases

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Metal Prices, Premium

The day’s biggest mover broke away from a static phase with a 5.5 percent jump on Friday, August 23. After three changeless days, the price of Chinese bright copper scrap closed at CNY 44,200 ($7,220) per metric ton. At CNY 53,290 ($8,704), the price of Chinese copper wire finished the market day up 0.1 percent per metric ton. Chinese copper bar held its value last Friday at CNY 54,150 ($8,845) per metric ton. The Chinese copper cash price remained essentially flat at CNY 54,350 ($8,877) per metric ton.

The cash price of primary Japanese copper saw a 0.7 percent decline to JPY 739,000 ($7,473) per metric ton. After a 0.5 percent increase, the price of US copper producer grade 122 finished the day at $4.00 per pound. The price of US copper producer grade 110 gained 0.5 percent to finish at $4.00 per pound. The price of US copper producer grade 102 increased 0.5 percent to $4.19 per pound.

Following a 1.4 percent rise last Friday, the primary copper cash price closed on the LME at $7,340 per metric ton. Also on the LME, the copper 3-month price rose 1.3 percent to $7,367 per metric ton.