Chinese Copper Wire Rises 1.0%

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Chinese copper wire saw the biggest upwards shift for the day, rising 1.0 percent to close at CNY 58,480 ($9,391) per metric ton on Jan. 30, 2013. Chinese copper bar prices rose 0.9 percent to CNY 59,320 ($9,526) per metric ton. At CNY 59,520 ($9,558), the cash price of Chinese copper finished the market day up 0.8 percent per metric ton. The price of Chinese bright copper scrap moved yesterday. After a few changeless days, prices dropped 0.3 percent to CNY 48,660 ($7,814) per metric ton.

After a 0.7 percent increase, the price of US copper producer grade 122 finished the day at $4.31 per pound. The price of US copper producer grade 110 rose 0.7 percent to $4.31 per pound. The price of US copper producer grade 102 rose 0.7 percent to $4.50 per pound. The cash price of primary Japanese copper continues hovering around JPY 640,000 ($7,048) per metric ton for the fifth day in a row.

On the LME, the 3-month price of copper held steady around $8,010 per metric ton. The cash price of primary copper saw little movement on Wednesday on the LME, closing out around $8,045 per metric ton.