1.5% Shift for Chinese Bright Copper Scrap

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Metal Prices, Premium

Chinese bright copper scrap saw the biggest upwards shift for the day, rising 1.5 percent to close at CNY 43,490 ($7,137) per metric ton on Wednesday, October 23. Chinese copper wire finished the day down 0.4 percent to CNY 52,345 ($8,591) per metric ton. Chinese copper bar saw little change in its price yesterday at CNY 53,350 ($8,756) per metric ton. The Chinese copper cash price showed little movement on Wednesday, hovering around CNY 53,550 ($8,788) per metric ton.

The price of US copper producer grade 122 rose 0.8 percent to $4.02 per pound. The price of US copper producer grade 110 gained 0.8 percent to finish at $4.02 per pound. The price of US copper producer grade 102 increased 0.7 percent to $4.21 per pound. The cash price of primary Japanese copper weakened by 0.4 percent, settling at JPY 742,000 ($7,557) per metric ton.

The copper 3-month price closed at $7,274 per metric ton. Following a couple days of improvement, prices fell by 0.8 percent on the LME. The cash price of primary copper declined 0.5 percent on the LME to $7,258 per metric ton, after two days of improvement.

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