Olin Brass Shaking Things Up; LME Copper, China Prices Rise

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Global Brass and Copper Holdings has appointed two new folks to leadership positions – John Wasz to president, among his other duties, and Kevin Bense as president of A.J. Oster, in the wake of some impending retirements.

Olin Brass is under GBC’s umbrella. We’ll keep tabs on this local operation’s activity in the coming months.

Following a two-day decline on the LME, the cash price of primary copper climbed up 1.0 percent to end at $7,170 per metric ton on Monday, September 9. The copper 3-month price is back up, rising by 0.9 percent on the LME on Monday to close at $7,198 per metric ton.

Meanwhile, the price of US copper producer grade 122 finished the market day up 0.3 percent per pound.

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After a 0.3 percent increase, the price of US copper producer grade 110 finished up as well. The price of US copper producer grade 102 rose 0.2 percent. The cash price of primary Japanese copper held steady on Monday.

Chinese copper prices were mixed for the day. After falling for two days, the price of Chinese copper wire rose 0.8 percent. The price of Chinese copper bar finished the market day up 0.8 percent per metric ton. The cash price of Chinese copper gained 0.8 percent. After a couple of days of improving prices, the price of Chinese bright copper scrap held steady.

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