3-Month Price of Copper Improves 0.6%

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The 3-month price of copper saw the biggest upwards shift for the day, rising 0.6 percent on the LME to close at $8,115 per metric ton on Jan. 24, 2013. At $8,148, the primary copper cash price finished the market day on the LME up 0.6 percent per metric ton.

The price of US copper producer grade 122 saw a 0.5 percent decline to $4.31 per pound. The price of US copper producer grade 110 weakened by 0.5 percent, settling at $4.31 per pound. The price of US copper producer grade 102 declined 0.4 percent to $4.50 per pound. The Japanese copper cash price remained essentially flat at JPY 640,000 ($7,224) per metric ton.

Chinese copper closed mixed yesterday. Following two days of rising prices, the price of Chinese copper wire dropped 0.1 percent to CNY 57,910 ($9,306) per metric ton. Chinese copper bar prices saw a 0.1 percent decline to CNY 58,780 ($9,446) per metric ton. The cash price of Chinese copper fell 0.1 percent to CNY 58,980 ($9,478) per metric ton. For the fifth day in a row, the price of Chinese bright copper scrap remained essentially flat at CNY 48,800 ($7,842) per metric ton.

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