Copper Cash Price Improves Slightly

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With a 2.1 percent increase over the past day, the cash price of primary copper was the biggest mover on the LME, closing at $8,214 per metric ton on Jan. 31, 2013. Also on the LME, the 3-month price of copper gained 2.1 percent to finish at $8,175 per metric ton.

After a 1.4 percent increase, the price of US copper producer grade 122 finished the day at $4.37 per pound. The price of US copper producer grade 110 inched up 1.4 percent to $4.37 per pound. The price of US copper producer grade 102 increased 1.3 percent to $4.56 per pound. The Japanese copper cash price saw essentially no change for the fifth day in a row, remaining around JPY 640,000 ($7,030) per metric ton.

Chinese copper closed mixed yesterday. The price of Chinese copper wire increased 0.3 percent to CNY 58,670 ($9,432) per metric ton. Chinese copper bar finished the day up 0.3 percent to CNY 59,470 ($9,560) per metric ton. The Chinese copper cash price rose 0.3 percent to CNY 59,670 ($9,592) per metric ton. Chinese bright copper scrap held its value yesterday at CNY 48,660 ($7,823) per metric ton.