3-Month Price of Copper Sees Small Price Drop

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 The 3-month price of copper experienced the biggest price decline of the day, dropping 0.6 percent on the LME to close at $8,014 per metric ton on Jan. 29, 2013. The cash price of primary copper saw a 0.5 percent decline on the LME to $8,049 per metric ton.

The price of US copper producer grade 122 is back up, rising by 0.2 percent on Tuesday to close at $4.28 per pound. Following a two-day drop, the price of US copper producer grade 110 increased by 0.2 percent to $4.28 per pound. After falling for two days, the price of US copper producer grade 102 rose 0.2 percent to $4.47 per pound. The cash price of primary Japanese copper saw little movement at JPY 640,000 ($7,074) per metric ton.

Chinese copper prices closed flat for the day. Chinese copper wire stayed flat at around CNY 57,915 ($9,304) per metric ton. Chinese copper bar held its value yesterday at CNY 58,820 ($9,450) per metric ton. The cash price of Chinese copper remained essentially flat at CNY 59,020 ($9,482) per metric ton. For the fifth consecutive day, the price of Chinese bright copper scrap held flat at CNY 48,800 ($7,840) per metric ton.