The day’s biggest mover on our copper price index broke away from a static phase — after three changeless days, the price of Chinese bright copper scrap closed with a 3.2 percent drop on Oct. 23, 2012.
The price of Chinese copper bar fell 0.2 percent. The cash price of Chinese copper fell 0.2 percent, and Chinese copper wire finished the day also down 0.2 percent.
Producer prices and LME prices dropped too…
The price of US copper producer grades 110 and 122 declined 0.5 percent, while the price of US copper producer grade 102 weakened by 0.4 percent. For the fifth consecutive day, the cash price of primary Japanese copper held flat.
The cash price of primary copper saw a 1.7 percent decline on the LME to $7,983 per metric ton. The copper 3-month price weakened by 1.6 percent on the LME, settling at $7,990 per metric ton.