The day’s biggest mover was the 3-month price of copper which dropped by 0.5 percent on Aug. 15, 2012, to close at $7,406 per metric ton on the LME. Also on the LME, the primary copper cash price held steady around $7,419 per metric ton.
US copper producer prices held steady for the first time in weeks.
After dropping for two days, the price of US copper producer grade 122 flattened, holding at $3.00 per pound. The price of US copper producer grade 102 flattened as well, holding above $4.00 per pound after two days of downward movement. After a couple of days of decreasing prices, the price of US copper producer grade 110 held steady also at just below $4.00 per pound.
The Japanese copper cash price remained essentially flat yet again, holding below $8,200 per metric ton.
Chinese copper prices were mixed for the day.
Following a two-day drop, the price of Chinese copper wire increased by 0.1 percent. The price of Chinese copper bar flattened below $8,800 following two days of declines.
Following two days of downward movement, the Chinese copper cash price held steady above $8,800 per metric ton. The price of Chinese bright copper scrap remained essentially flat above $7,400 per metric ton.