Chinese Copper Bar Shifts 0.5%

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On Jan. 22, 2013, the day’s biggest mover was Chinese copper bar, which saw a 0.5 percent increase to CNY 58,880 ($9,464) per metric ton. After a 0.5 percent increase, the cash price of Chinese copper finished the day at CNY 59,080 ($9,496) per metric ton. Chinese copper wire finished the day up 0.3 percent to CNY 57,920 ($9,309) per metric ton. The price of Chinese bright copper scrap was unchanged at CNY 48,800 ($7,844) per metric ton.

The price of US copper producer grade 122 ended a two-day climb, settling at $4.30 per pound. For the fifth day in a row, the cash price of primary Japanese copper remained essentially flat at JPY 640,000 ($7,140) per metric ton. The price of US copper producer grade 102 steadied at $4.49 per pound following two-days of increases. Following a two-day rise, the price of US copper producer grade 110 flattened at $4.30.

The cash price of primary copper declined 0.4 percent on the LME to $8,051 per metric ton, after two days of improvement. Weakening prices followed two days of improvement as the 3-month price of copper dropped 0.4 percent on the LME to $8,020 per metric ton.

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