Chinese Scrap Copper Price Declines on Daily Copper Index

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The cash price of primary copper closed at $7,595 per metric ton on the LME for July 9, 2012. Also on the LME, the copper 3-month price gained 0.1 percent to finish at $7,775 per metric ton.

The prices of US copper producer grades 102, 120 and 122 held steady, while the Japanese copper cash price remained essentially flat above $8,000 per metric ton.

Chinese copper prices were mixed for the day, with Chinese bright copper scrap prices seeing a 0.8 percent decline. The price of Chinese copper wire, meanwhile, rose 0.4 percent after a two-day drop. Chinese copper bar gained 0.4 percent also, and the cash price of Chinese copper rose 0.3 percent.

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