Copper 3-Month Price Up After Two-Day Decline

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The copper 3-month price closed as the biggest mover for Aug. 7, 2012. Switching from a downward trend, the metal closed at $7,410 per metric ton following a 1.1 percent increase.

The primary copper cash price is back up, rising by 0.9 percent on the LME yesterday to close at $7,395 per metric ton.

The prices of US copper producer grades 102, 110 and 122 all increased 0.5 percent yesterday. The Japanese copper cash price was unchanged.

Chinese copper prices were mixed for the day. Chinese copper wire saw its price rise 0.5 percent, while Chinese copper bar gained 0.4 percent on the day.

The cash price of Chinese copper rose 0.4 percent as well, and Chinese bright copper scrap stayed flat just south of $7,500 per metric ton.

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