Chinese Bright Copper Scrap Increase

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Metal Prices
The day’s biggest mover broke away from a static phase with a 1.7 percent jump on Thursday, January 2. After three changeless days, the price of Chinese bright copper scrap closed at CNY 43,470 ($7,185) per metric ton. Chinese copper bar saw its price rise 0.5 percent to CNY 53,260 ($8,803) per metric ton. The Chinese copper cash price inched up 0.5 percent to CNY 53,460 ($8,836) per metric ton. The price of Chinese copper wire moved up 0.2 percent, landing at CNY 52,195 ($8,627) per metric ton.

The price of US copper producer grade 122 gained 0.5 percent to finish at $4.14 per pound. At $4.14, the price of US copper producer grade 110 finished the market day up 0.5 percent per pound. The price of US copper producer grade 102 increased 0.5 percent to $4.33 per pound. The cash price of primary Japanese copper continues hovering around JPY 795,000 ($7,547) per metric ton for the fifth day in a row.

On the LME, the copper 3-month price declined 0.1 percent to $7,370 per metric ton. Also on the LME, the primary copper cash price rose 0.1 percent to $7,394 per metric ton.[/ismmember]

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