WorldScrap- LME copper was closed at $6,475 yesterday, down $10 while the warehouse stocks reduced 25 tons to 372,175 tons. SHFE copper contract 1001 rose 240RMB/T and ended at 50,760RMB/T today. As for the spot market, #1 copper cathode was quoted at 50,500-50,650RMB/T in Changjiang, up 500RMB/T while 50,550-50,700RMB/T in Shanghai, up 325RMB/T. In domestic scrap market, copper price went up 200RMB/T, however, the trade volume was scarce as the customers were interested to inquire the price instead of strong buying. The demand outlook continued to be pessimistic. The latest price: #1 bare bright 46,800RMB/T.

(1RMB=0.1465USD)

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