Market Update- May 26th, 2016: Chinese copper scrap prices soared on Index
BEIJING (Scrap Monster): The Chinese copper scrap prices witnessed sharp rise on ScrapMonster Price Index as on Thursday, May 26th.
The #1 Copper Bare Bright and #1 Copper Wire and Tubing saw price rise of CNY 500 per MT each.
The price of #2 Copper Wire and Tubing also increased by CNY 500 per MT.
#1 Insulated Copper Wire 85% Recovery was up CNY 150 per MT to CNY 26,400 per MT. The price of #2 Insulated Copper Wire 50% Recovery went higher by CNY 100 per MT to touch CNY 22,450 per MT.
Copper Transformer scrap prices moved higher by CNY 50 per MT. An up move of CNY 50 per MT was witnessed in Cu Yokes.
Cu/Al Radiator prices increased by CNY 100 per MT over the previous day.
Harness Wire 35% Recovery and Heater Cores were up by CNY 50 and CNY 100 per MT respectively on Thursday, May 26th.
Meantime, Scrap Electric Motors and Sealed Units saw no change in prices over the previous day.
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