Market Update- 16th Oct, 2014: Chinese copper scrap prices collapsed

BEIJING (Scrap Monster):  The Chinese copper scrap prices witnessed sharp downfall on ScrapMonster Price Index  as on Thursday, October 16^th.

#1 Copper Bare Bright prices were down by CNY 900 per MT over the previous day. The price of #1 Copper Wire and Tubing and #2 Copper Wire and Tubing too tumbled by CNY 900 per MT.

#1 Insulated Copper Wire 85% Recovery was down CNY 300 per MT to CNY 32,200 per MT. The price of #2 Insulated Copper Wire 50% Recovery fell CNY 150 per MT to touch CNY 26,250 per MT.

Copper Transformer scrap prices declined by CNY 100 per MT. A similar fall of CNY 100 per MT was witnessed in Cu Yokes.

Cu/Al Radiator scrap prices witnessed decline of CNY 200 per MT.

Harness Wire 35% Recovery and Heater Cores were down CNY 100 and CNY 300 per MT respectively on Thursday, October 16^th.

Meantime, Scrap Electric Motors and Sealed Units prices declined by CNY 50 per MT over the previous day.

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