Cash Price of Primary Copper Drifts Downwards

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Dropping 2.7 percent on the LME, the copper cash price was the biggest mover on March 4, 2013, closing at $7,620 per metric ton. The 3-month price of copper saw a 2.5 percent decline on the LME to $7,664 per metric ton.

The price of US copper producer grade 122 fell 1.0 percent to $4.12 per pound. The price of US copper producer grade 110 weakened by 1.0 percent, settling at $4.12 per pound. The price of US copper producer grade 102 saw a 0.9 percent decline to $4.31 per pound. The cash price of primary Japanese copper saw little movement at JPY 640,000 ($6,840) per metric ton.

Chinese copper closed mixed yesterday. Chinese copper bar finished the day down 0.7 percent to CNY 57,150 ($9,187) per metric ton. The Chinese copper cash price declined 0.7 percent to CNY 57,350 ($9,219) per metric ton. At CNY 56,240 ($9,040) per metric ton, Chinese copper wire fell 0.7 percent yesterday. The price of Chinese bright copper scrap continues hovering around CNY 47,430 ($7,624) per metric ton for the fifth day in a row.