Scrap Metal Prices and Scrap Metal Auctions

Spurred by the better stock market in the EU and UAS, the London Metal Exchange (LME) showed that copper futures on 29th rebounded, rose and finally closed at 7,255 points, up by 80 points, or 1.11%. Inventory, on Thursday, rose 100 tons, totally to 411,525 tons.

Today Shanghai copper opened high, rebounded and closed a little lower. Contract 1011 closed at 56,280 points, up by 140 points, or 0.25%, trading at 55,900 to 56,400, positions increased 8,744 hands, volume reduced significantly.

On the spot market, the Yangtze 1 # electrolytic copper 56,150-56,350 RMB/T, up by 225 RMB/T; Shanghai # 1 copper 56,100-56,350 RMB/T, up by 75 RMB/T; Guangdong Nanchu 1 # electrolytic copper 56,150-56,350 RMB/T, unchanged from yesterday’s.

Today, domestic copper price was stable and downstream buyers inquired positively. Goods holders quoted firmly and were reluctant to ship. Trading volume was small. Traders were uncertain about the future market. Latest Market Price: 1 # bare bright 51,600 RMB/T.

On the whole, less stock and stabilized stock market supported copper price. However, global economic recovery had uncertainty. Copper price will be on the shock.

(1RMB=0.1476USD) News Source www.worldscrap.com

Filed under: Chinese Metal Market, china scrap metal prices, copper, copper scrap metal prices