Small Drift for Copper Cash Price

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On Feb. 22, 2013, the cash price of primary copper fell by 2.4 percent on the LME, landing at $7,847 per metric ton and making it the day’s biggest mover. Also on the LME, the 3-month price of copper fell 1.7 percent to $7,874 per metric ton.

The price of US copper producer grade 122 saw a 1.2 percent decline to $4.19 per pound. The price of US copper producer grade 110 declined 1.2 percent to $4.19 per pound. The price of US copper producer grade 102 weakened by 1.1 percent, settling at $4.38 per pound. The cash price of primary Japanese copper remained essentially flat at JPY 640,000 ($6,870) per metric ton.

Chinese copper prices were flat for the day. The price of Chinese copper bar flattened at CNY 58,120 ($9,314) per metric ton after two days of downward movement. After dropping for two days, the cash price of Chinese copper flattened at CNY 58,320 ($9,346). Following two days of downward movement, the price of Chinese copper wire held steady at CNY 57,230 ($9,171) per metric ton. The price of Chinese bright copper scrap showed little movement last Friday at CNY 48,850 ($7,828) per metric ton.