Copper 3-Month Price Sees Small Decrease

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On Feb. 27, 2013, the day’s biggest mover was the 3-month price of copper, which saw a 1.2 percent decline on the LME to $7,793 per metric ton. The cash price of primary copper weakened by 1.0 percent on the LME, settling at $7,784 per metric ton.

After a 0.5 percent increase, the price of US copper producer grade 122 finished the day at $4.20 per pound. The price of US copper producer grade 110 inched up 0.5 percent to $4.20 per pound. At $4.39, the price of US copper producer grade 102 finished the market day up 0.5 percent per pound. For the fifth day in a row, the cash price of primary Japanese copper remained essentially flat at JPY 640,000 ($6,945) per metric ton.

Chinese copper prices were mixed for the day. Chinese copper wire saw its price rise 0.3 percent to CNY 57,150 ($9,174) per metric ton. Chinese copper bar gained 0.2 percent to finish at CNY 58,000 ($9,311) per metric ton. The cash price of Chinese copper rose 0.2 percent to CNY 58,200 ($9,343) per metric ton. The price of Chinese bright copper scrap remained steady at CNY 47,430 ($7,614) per metric ton.