Strengthening prices ended a three-day flat streak as US copper producer grade 110 price moved up by 2.4 percent on Jan. 7, 2013 to $4.31 per pound. After a few days of little change, the price of US copper producer grade 122 jumped 2.4 percent, landing at $4.31 per pound. Closing out a three-day flat streak, the price of US copper producer grade 102 moved up 2.3 percent to $4.50 per pound. The cash price of primary Japanese copper continues hovering around JPY 640,000 ($7,255) per metric ton for the fifth day in a row.
Chinese copper prices were mixed for the day. Chinese copper wire gained 0.1 percent to finish at CNY 57,560 ($9,237) per metric ton. At CNY 58,450 ($9,380) per metric ton, the price of Chinese copper bar was essentially unchanged. The Chinese copper cash price showed little movement yesterday, hovering around CNY 58,650 ($9,412) per metric ton. Chinese bright copper scrap held its value on Monday at CNY 48,100 ($7,719) per metric ton.
The 3-month price of copper closed at $8,025 per metric ton. Following a couple days of improvement, prices fell by 1.4 percent on the LME. The cash price of primary copper closed at $8,059 per metric ton. Following a couple days of improvement, the metal’s price weakened by 1.3 percent on the LME.