Chinese Bright Copper Scrap Moves Down 0.8%

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Metal Prices, Premium

On Monday, October 28, the day’s biggest mover was the price of Chinese bright copper scrap, which saw a 0.8 percent decline to CNY 43,130 ($7,089) per metric ton. The price of Chinese copper bar steadied at CNY 52,670 ($8,657) per metric ton following two-days of dropping prices. After dropping for two days, the Chinese copper cash price flattened at CNY 52,870 ($8,690). The price of Chinese copper wire flattened at CNY 51,805 ($8,515) following two-days of declines.

The cash price of primary Japanese copper declined 0.1 percent to JPY 729,000 ($7,470) per metric ton. The price of US copper producer grade 122 saw little change in its price on Monday at $3.96 per pound. The price of US copper producer grade 102 showed little movement on Monday, hovering around $4.15 per pound. The price of US copper producer grade 110 held steady yesterday, remaining around $3.96 per pound.

The copper 3-month price saw a 0.5 percent decline on the LME to $7,134 per metric ton. Also on the LME, the primary copper cash price fell 0.5 percent to $7,126 per metric ton.

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