Chinese Copper Bar Drops 0.7% After Short Rise

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The price of Chinese copper bar fell 0.7 percent on Dec. 19, 2012 to CNY 58,070 ($9,310) per metric ton, making it the day’s biggest mover. The Chinese copper cash price changed direction with a 0.7 percent drop. After two days of improving prices, the metal finished at CNY 58,270 ($9,342) per metric ton. Following two days of rising prices, the price of Chinese copper wire dropped 0.7 percent to CNY 57,230 ($9,175) per metric ton. For the fifth consecutive day, the price of Chinese bright copper scrap held flat at CNY 48,400 ($7,760) per metric ton.

The price of US copper producer grade 122 declined 0.2 percent to $4.27 per pound. The price of US copper producer grade 110 saw a 0.2 percent decline to $4.27 per pound. The price of US copper producer grade 102 fell 0.2 percent to $4.46 per pound. The cash price of primary Japanese copper remained essentially flat at JPY 640,000 ($7,587) per metric ton.

At $8,038, the primary copper cash price finished the market day on the LME up 0.2 percent per metric ton. The 3-month price of copper remained essentially flat on the LME at $8,005 per metric ton.

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