Chinese Bright Copper Scrap Rises 16.3%

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Metal Prices, Premium

On Friday, September 6, Chinese bright copper scrap jumped up 16.3 percent, landing at CNY 52,550 ($8,586) per metric ton and making it the day’s biggest increase. The price of Chinese copper wire fell 0.6 percent to CNY 52,340 ($8,552) per metric ton. The price of Chinese copper bar is back up, rising by 0.2 percent last Friday to close at CNY 53,220 ($8,696) per metric ton. The cash price of Chinese copper rose 0.2 percent to CNY 53,420 ($8,729) per metric ton after a two-day drop.

The cash price of primary Japanese copper saw a 1.6 percent decline to JPY 740,000 ($7,390) per metric ton. After a 0.3 percent increase, the price of US copper producer grade 122 finished the day at $3.91 per pound. At $3.91, the price of US copper producer grade 110 finished the market day up 0.3 percent per pound. After a 0.2 percent increase, the price of US copper producer grade 102 finished the day at $4.10 per pound.

The copper 3-month price weakened by 0.4 percent on the LME, settling at $7,132 per metric ton. Also on the LME, the cash price of primary copper declined 0.3 percent to $7,101 per metric ton.