SMM

Prices of #1 bare bright copper without invoices averaged 60,820 yuan/mt as of last Friday, up 880 yuan/mt from a week earlier. The average price spread between copper cathode and copper scrap expanded 300 yuan/mt to 1,224 yuan/mt.

For copper scrap, cif quotes for #1 copper scrap were Comex September copper contract prices less $0.05-0.06/lb, and offers for birch/cliff were Comex September copper prices less $0.19-0.2/lb. The coefficient for US brass against LME copper was 68-69%, with the fixed prices of $5,580-5,680/mt.

The coefficient for copper granules (Cu 98.5%) against LME copper was 96.5-96.75% on a cif basis, and the coefficient for bare bright copper against LME copper at 99-99.25%, on a cif basis.

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