China’s imported copper ingot prices fell by $422/mt from a week ago, on a $416/mt drop in the official three-month LME copper contract. 

Sellers of copper ingots from South Asia who made long-term contracts with Chinese buyers have not been affected yet but other manufacturers have temporarily suspended sales as they await Chinese markets to reopen. 

South Asian sellers got some respite as inquiries from Taiwan have increased. 

The Davis Index for imported copper ingots settled at $5,451/mt cfr China port Thursday, down from $5,5873/mt a week ago, while the weekly index for brass billets settled at $4,025/mt cfr China port, Thursday, down by $138/mt from a week ago. 
The three-month LME zinc price also dropped by $206.5/mt from a week ago. 

The import price of Honey Brass Scrap dropped by $125/mt, to settle at $3,525/mt from a week ago.
Imported copper scrap prices mirrored the fall in LME copper. 

The Davis Index for Berry/Candy settled at $5,723/mt cfr China port Thursday, down by $231/mt from a week ago.
The index for #2 copper dropped by $366/mt, to settle at $5,036/mt cfr China port, Thursday, from a week ago. 
The three-month LME copper official contract settled at $5,723/mt Wednesday, down from $6,139/mt from last Wednesday.

 

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