Market Update- 20th May, 2015: Chinese copper scrap prices collapse

BEIJING (Scrap Monster):  The Chinese copper scrap prices witnessed sharp downfall on ScrapMonster Price Index  as on Wednesday, May 20^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 each.

#1 Insulated Copper Wire 85% Recovery was down CNY 400 per MT to CNY 31,700 per MT. The price of #2 Insulated Copper Wire 50% Recovery fell CNY 150 per MT to touch CNY 26,350 per MT.

Copper Transformer scrap prices declined by CNY 50 per MT. A similar fall of CNY 100 per MT was witnessed in Cu Yokes.

Cu/Al Radiator scrap prices witnessed decline of CNY 150 per MT.

Harness Wire 35% Recovery and Heater Cores were down CNY 100 and CNY 400 per MT respectively on Wednesday, May 20^th.

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

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