Cash Price of Primary Copper Sees Small Decrease

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On Dec. 12, 2012, the day’s biggest mover was the cash price of primary copper, which saw a 0.9 percent decline on the LME to $8,068 per metric ton. Also on the LME, the copper 3-month price declined 0.1 percent to $8,100 per metric ton.

The price of US copper producer grade 122 fell 0.5 percent to $4.31 per pound. The price of US copper producer grade 110 weakened by 0.5 percent, settling at $4.31 per pound. The price of US copper producer grade 102 saw a 0.4 percent decline to $4.50 per pound. The cash price of primary Japanese copper saw little movement at JPY 640,000 ($7,755) per metric ton.

Chinese copper closed mixed yesterday. The price of Chinese copper bar closed at CNY 58,280 ($9,331) per metric ton. Following a couple days of improvement, prices fell by 0.1 percent. The Chinese copper cash price changed direction with a 0.1 percent drop. After two days of improving prices, the metal finished at CNY 58,480 ($9,363) per metric ton. The price of Chinese copper wire closed at CNY 57,480 ($9,202) per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.1 percent. The price of Chinese bright copper scrap remained essentially flat at CNY 48,400 ($7,749) per metric ton.

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