October 24 2011 – Copper rebounded nearly 7 percent today to close at approximately $3.46 per pound on the spot market.
The Wall Street Journal reported that Copper futures surged 7.1%, ending at a one-month high as strong manufacturing data from top consumer China and hopes for a European debt deal.
Reuters reported that Copper on the London Metal Exchange closed at $7,635 a tonne, up 6.9 percent from $7,145 per tonne on Friday. Benchmark copper , nickel and tin all rallied more than 6 percent.
Scrap Copper prices provided by Iron Mike Enterprises are as follows:
|Scrap Bare Bright Copper||$2.90 lb|
|Scrap #1 Copper||$2.73 lb|
|Scrap #2 Copper||$2.61 lb|
|Scrap insul Hvy Wire 85% Recovery||$2.23 lb|
|Scrap insulated Light Wire 50% Recovery||$0.95 lb|
|Scrap Alum-CU Rads(clean)||$1.51 lb|
Where do you think scrap copper prices will go?