LME Copper Cash Price Drops 2% on the Day

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Dropping 2 percent on the LME, the cash price of primary copper was the copper price index’s biggest mover on Oct. 9, 2012, closing at $8,132 per metric ton. The 3-month price of copper saw a 1.9 percent decline on the LME to $8,135 per metric ton.

After two changeless days, the price of US copper producer grade 122 fell 1.6 percent, as did the grade 110 price. Tuesday saw the price of US copper producer grade 102 drift down 1.5 percent after a couple of stagnant days. For the fifth consecutive day, the cash price of primary Japanese copper held flat.

Chinese copper wire prices rose 0.5 percent. The price of Chinese copper bar finished the day with a 0.3 percent increase. After a few days of little change, the cash price of Chinese copper jumped 0.3 percent, while the price of Chinese bright copper scrap saw essentially no change for the fifth day in a row.

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