Chinese Bright Copper Scrap Price Drops; LME Copper Sees Decline

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The day’s biggest mover was Chinese bright copper scrap, dropping 1.1 percent to settle on Monday, January 6. Following two days of rising prices, the price of Chinese copper wire dropped 0.8 percent. The price of Chinese copper bar remained steady. The cash price of Chinese copper remained essentially flat.

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The price of US copper producer grade 122 declined 0.7 percent. The price of US copper producer grade 110 weakened by 0.7 percent. The price of US copper producer grade 102 fell 0.7 percent. The cash price of primary Japanese copper continues to hover for the fifth day in a row.

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The cash price of primary copper saw a 0.8 percent decline on the LME to $7,335 per metric ton. Also on the LME, the copper 3-month price fell 0.7 percent to $7,322 per metric ton.