Chinese Bright Copper Scrap Drops 4.1 Percent

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For all metals that comprise the MetalMiner Copper MMI®, Chinese bright copper scrap had the largest decline on June 28, 2012, dropping 4.1 percent. However, some semi-finished products showed price support. For example, the price of Chinese copper wire rose 0.4 after a two-day drop. The price of Chinese copper bar increased 0.4 percent. The cash price of Chinese copper increased 0.4 percent.

The price of US copper producer grade 122 inched up 0.8 percent. The price of US copper producer grade 110 rose 0.8 percent. The price of US copper producer grade 102 rose 0.7 percent . The cash price of primary Japanese copper saw little movement.

Following a couple days of improvement, the copper 3-month price weakened by 0.1 percent on the LME. Prices closed at $7,335 per metric ton. The primary copper cash price remained essentially flat on the LME at $7,353 per metric ton.

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