Volatility slims copper scrap discounts
Jun 05, 2014 | 04:20 PM
| Saranya Kapur
NEW YORK Volatility in terminal markets lowered discounts on copper scrap this week as market participants sought direction and monitored the developments in Chinas eastern province of Qingdao, where authorities stalled shipments as they investigate potentially fraudulent warehouse receipts used to raise financing.
The July delivery Comex copper contractthe most actively tradedsettled at $3.093 per pound June 4, down 2.5 percent from $3.1735 May 28. The contract inched lower June 5, settling at $3.0905 per pound.....
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