Copper Cash Price Sees Small Decrease

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Dropping 1.2 percent on the LME, the cash price of primary copper was the biggest mover on Jan. 16, 2013, closing at $7,970 per metric ton. The 3-month price of copper weakened by 1.1 percent on the LME, settling at $7,944 per metric ton.

After a 0.2 percent increase, the price of US copper producer grade 122 finished the day at $4.26 per pound. The price of US copper producer grade 110 rose 0.2 percent to $4.26 per pound. The price of US copper producer grade 102 increased 0.2 percent to $4.45 per pound. The Japanese copper cash price was unchanged at JPY 640,000 ($7,211) per metric ton.

Chinese copper prices were mixed for the day. Chinese copper bar prices saw a 0.1 percent decline to CNY 58,350 ($9,389) per metric ton. The cash price of Chinese copper saw a 0.1 percent decline to CNY 58,550 ($9,422) per metric ton. After dropping for two days, the price of Chinese copper wire flattened at CNY 57,540 ($9,259). The price of Chinese bright copper scrap continues hovering around CNY 48,800 ($7,853) per metric ton for the fifth day in a row.

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