Commodities
Copper Prices Plummet as LME Retreats from Record High
The LME copper price reached a record high last week but has since retreated by almost $300 per tonne over the past week.
This decline in copper prices also affected scrap metal prices, with wholesalers in Germany reporting declines for copper and brass scrap.
Copper scrap prices fell by €20 per 100 kg across all grades on the German market, according to MBI, while heavy and light brass scrap declined by €10 and €15 respectively. Red brass scrap lost €20/100 kg in value.
The aluminium and zinc scrap grades covered by MBI maintained their previous price levels, but V4A stainless steel scrap prices rose slightly.