Chinese Bright Copper Scrap Falls 4.2%

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Metal Prices, Premium

On Wednesday, December 25, the day’s biggest mover was the price of Chinese bright copper scrap, which saw a 4.2 percent decline to CNY 42,730 ($7,038) per metric ton. This was the first move after three changeless days. At CNY 52,760 ($8,690), the price of Chinese copper bar finished the market day up 1.0 percent per metric ton. The cash price of Chinese copper gained 1.0 percent to finish at CNY 52,960 ($8,723) per metric ton. Chinese copper wire gained 0.9 percent to finish at CNY 51,860 ($8,541) per metric ton.

The Japanese copper cash price rose 0.6 percent to JPY 792,000 ($7,596) per metric ton. The price of US copper producer grade 122 remained essentially flat at $4.04 per pound. The price of US copper producer grade 102 saw little movement yesterday, closing out around $4.23 per pound. The price of US copper producer grade 110 showed little movement yesterday, hovering around $4.04 per pound.

At $7,271, the 3-month price of copper finished the market day on the LME up 0.5 percent per metric ton. Also on the LME, the cash price of primary copper inched up 0.4 percent to $7,278 per metric ton.

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