Copper 3-Month Price Shifts Up 0.9%

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At $7,864 per metric ton, the copper 3-month price moved up 0.9 percent on Feb. 28, 2013, making it the day’s biggest mover on the LME. Also on the LME, the primary copper cash price rose 0.6 percent to $7,830 per metric ton.

After improving for two days, the price of US copper producer grade 122 declined 0.5 percent to $4.18 per pound. Weakening prices followed two days of improvement as the price of US copper producer grade 110 dropped 0.5 percent to $4.18 per pound. The price of US copper producer grade 102 closed at $4.37 per pound. Following a couple days of improvement, prices fell by 0.5 percent. For the fifth day in a row, the Japanese copper cash price remained essentially flat at JPY 640,000 ($6,933) per metric ton.

Chinese copper closed mixed on Thursday. Chinese copper wire saw its price rise 0.1 percent to CNY 57,220 ($9,189) per metric ton. The price of Chinese copper bar remained essentially flat at CNY 58,050 ($9,322) per metric ton. The cash price of Chinese copper showed little movement on Thursday, hovering around CNY 58,250 ($9,354) per metric ton. The price of Chinese bright copper scrap held steady at CNY 47,430 ($7,617) per metric ton.