Chinese Copper Wire Drops 0.7% After Flat

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The day’s biggest mover broke away from a static phase with a 0.7 percent drop on Feb. 18, 2013. After three changeless days, the price of Chinese copper wire closed at CNY 58,525 ($9,393) per metric ton. The price of Chinese copper bar saw essentially no change for the fifth day in a row, remaining around CNY 59,550 ($9,557) per metric ton. For the fifth consecutive day, the cash price of Chinese copper held flat at CNY 59,750 ($9,589) per metric ton. For the fifth day in a row, the price of Chinese bright copper scrap remained essentially flat at CNY 48,760 ($7,825) per metric ton.

The price of US copper producer grade 122 saw little change in its price last Friday at $4.36 per pound. The Japanese copper cash price was unchanged at JPY 640,000 ($6,828) per metric ton. The price of US copper producer grade 102 saw little movement last Friday, closing out around $4.55 per pound. The price of US copper producer grade 110 held steady around $4.36 per pound.

On the LME, the cash price of primary copper saw little movement last Friday at $8,198 per metric ton. Also on the LME, the copper 3-month price held steady around $8,235 per metric ton.