China Copper Scrap Recycling Prices, Jan 22

25. January. 2010
worldscrap

WorldScrap- LME copper futures was closed at $7,285 yesterday, down $133 while the warehouse stocks added 8,000 tons to 534, 650 tons. SHFE copper contract 1004 declined 1,270RMB/T to settle at 59,480RMB/T and range ran from 58,710RMB/T to 60,000RMB/T.

Position reduced more than 7,200 hands and the trade volume has picked up. The price in spot market: Changjiang #1 copper cathode 59,400-59,500RMB/T, down 1,100RMB/T; Shanghai #1 copper 59,350-59,600RMB/T, down 950RMB/T; Guangdong South Reserve #1 copper cathode 59,600-59,800RMB/T, down 600RMB/T.

Domestic scrap copper price fell 800-1,000RMB/T from earlier day, but the supply remained tight due to strong demand. A lot of customers inquired the price while suppliers had low demand of selling, waiting for a rise in the later market. The latest price: #1 bare bright 55,000-55,200RMB/T.