Chinese Bright Copper Scrap Prices Fall 1.5%

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The day’s biggest mover was Chinese bright copper scrap, dropping 1.5 percent to settle at CNY 42,830 ($7,029) per metric ton on Tuesday, October 22. After a 0.6 percent increase, Chinese copper wire finished the day at CNY 52,550 ($8,624) per metric ton. After falling for two days, the price of Chinese copper bar rose 0.6 percent to CNY 53,350 ($8,756) per metric ton. The Chinese copper cash price rose 0.6 percent to CNY 53,550 ($8,788) per metric ton after a two-day drop.

The cash price of primary Japanese copper rose 0.7 percent to JPY 745,000 ($7,588) per metric ton. The price of US copper producer grade 122 saw little movement on Tuesday, closing out around $3.99 per pound. The price of US copper producer grade 102 saw little movement on Tuesday at $4.18 per pound. The price of US copper producer grade 110 saw little change in its price on Tuesday at $3.99 per pound.

After a 0.8 percent increase, the copper 3-month price finished the day on the LME at $7,329 per metric ton. Also on the LME, the cash price of primary copper increased 0.7 percent to $7,294 per metric ton.

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