Chinese Bright Copper Scrap Moves Up 2.4%

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Metal Prices, Premium

With a 2.4 percent increase on Thursday, September 5, Chinese bright copper scrap was the biggest mover on the Copper MMI®. The price of Chinese copper bar fell 0.9 percent to CNY 53,100 ($8,676) per metric ton. The Chinese copper cash price fell 0.9 percent to CNY 53,300 ($8,709) per metric ton. Chinese copper wire ended the day at CNY 52,650 ($8,603) per metric ton, after the 0.2 percent drop yesterday.

The price of US copper producer grade 122 saw a 1.5 percent decline to $3.90 per pound. The price of US copper producer grade 110 weakened by 1.5 percent, settling at $3.90 per pound. The price of US copper producer grade 102 declined 1.4 percent to $4.09 per pound. The Japanese copper cash price held steady on Thursday, remaining around JPY 752,000 ($7,540) per metric ton.

The cash price of primary copper changed direction with a 0.8 percent drop. After two days of improving prices, the metal finished at $7,125 per metric ton on the LME. The copper 3-month price closed at $7,160 per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.8 percent on the LME.