3-Month Price of Copper Down

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Dropping 0.8 percent on the LME, the 3-month price of copper was the biggest mover on Dec. 18, 2012, closing at $8,000 per metric ton. Also on the LME, the primary copper cash price fell 0.3 percent to $8,025 per metric ton.

The price of US copper producer grade 122 declined 0.5 percent to $4.28 per pound. The price of US copper producer grade 110 weakened by 0.5 percent, settling at $4.28 per pound. The price of US copper producer grade 102 saw a 0.4 percent decline to $4.47 per pound. For the fifth consecutive day, the Japanese copper cash price held flat at JPY 640,000 ($7,626) per metric ton.

Chinese copper closed mixed yesterday. At CNY 58,460 ($9,366), the price of Chinese copper bar finished the market day up 0.3 percent per metric ton. At CNY 58,660 ($9,398), the Chinese copper cash price finished the market day up 0.3 percent per metric ton. Chinese copper wire saw its price rise 0.2 percent to CNY 57,610 ($9,230) per metric ton. The price of Chinese bright copper scrap continues hovering around CNY 48,400 ($7,754) per metric ton for the fifth day in a row.

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