Scrap Metal Prices

As reported by WorldScrap- LME copper was closed at $6,650 yesterday, up $195 as the confidence towards metal demand recovered, though the warehouse stocks added 3,000 tons to 367, 075 tons. SHFE copper contract 1001 advanced 1,060RMB/T and ended at 51,200RMB/T. As for the spot market, #1 copper cathode was quoted at 50,700-50,850RMB/T in Changjiang, up 775RMB/T while 50,700-50,950RMB/T in Shanghai, up 825RMB/T. In domestic scrap market, copper price rose 600-800RMB/T and the supplier held the price firmly, However, the trade volume was scarce as most of traders kept on the sideline. The latest price: #1 bare bright 46,600-46,800RMB/T. (1RMB=0.1465USD)