Chinese Bright Copper Scrap Moves Up 1.8%

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With a 1.8 percent increase on Tuesday, October 29, Chinese bright copper scrap was the biggest mover on the Copper MMI®. At CNY 52,450 ($8,619) per metric ton, Chinese copper bar fell 0.4 percent on Tuesday. The Chinese copper cash price fell 0.4 percent to CNY 52,650 ($8,652) per metric ton. The price of Chinese copper wire remained essentially flat at CNY 51,805 ($8,513) per metric ton.

Following a 0.5 percent rise on Tuesday, the Japanese copper cash price closed at JPY 733,000 ($7,508) per metric ton. The price of US copper producer grade 122 saw little price change on Tuesday at $3.96 per pound. The price of US copper producer grade 102 held steady on Tuesday, remaining around $4.15 per pound. The price of US copper producer grade 110 showed little movement yesterday at $3.96 per pound.

Following a two-day drop, the 3-month price of copper increased by 0.6 percent on the LME to $7,175 per metric ton. The primary copper cash price rose 0.5 percent on the LME to $7,160 per metric ton after a two-day drop.

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