Copper metal prices felt as stockpiles expanded the most since March and some investors viewed last week’s rally as excessive. The LME’s three-month copper contract on Monday was down 0.4 per cent at $7,125 a metric ton. [Read more…]
On the London Metal Exchange, copper for delivery in three months rose to $7142.96 a metric ton. Copper futures for delivery in September settled at $3.2705 a pound on the Comex in New York.
The red metal advanced for a ninth straight session in New York, capping the longest rally since 2005, amid signs of tightening supply.
While copper’s recent gains can accurately be attributed to Chinese and US central bank data it is still a metal that’s very much in surplus. [Read more…]
The one showed below are the average scrap metal prices in US during the previous 2 months from the date of this report. All prices are expressed in US$.
HMS 1 and 2 (US): $63
Shredded Scrap (US ): $405
Copper No.1: $2.93
Copper No.2: $2.65 [Read more…]