Chinese Bright Copper Scrap Gaining Again

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Metal Prices, Premium

The price of Chinese bright copper scrap increased by 4.6 percent on Monday, November 11 to CNY 44,800 ($7,356) per metric ton, making it the day’s biggest mover. Following a couple of essentially changeless days, the price of Chinese copper wire rose by 0.3 percent, closing at CNY 51,790 ($8,504) per metric ton. The price of Chinese copper bar held steady at CNY 52,670 ($8,648) per metric ton. The cash price of Chinese copper saw little change in its price yesterday at CNY 52,870 ($8,681) per metric ton.

At $3.95, the price of US copper producer grade 122 finished the market day up 0.3 percent per pound. The price of US copper producer grade 110 rose 0.3 percent to $3.95 per pound. After a 0.2 percent increase, the price of US copper producer grade 102 finished the day at $4.14 per pound. The cash price of primary Japanese copper showed little movement yesterday at JPY 735,000 ($7,408) per metric ton.

On the LME, the 3-month price of copper increased 0.1 percent to $7,125 per metric ton. The primary copper cash price held steady on Monday on the LME, remaining around $7,125 per metric ton.

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