Cash Price of Primary Copper Improves Slightly

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On March 5, 2013, the copper cash price experienced the biggest change, rising 1.7 percent on the LME to $7,750 per metric ton. At $7,741, the copper 3-month price finished the market day on the LME up 1.0 percent per metric ton.

Following two days of downward movement, the price of US copper producer grade 122 held steady at $4.12 per pound. The cash price of primary Japanese copper continues hovering around JPY 640,000 ($6,851) per metric ton for the fifth day in a row. The price of US copper producer grade 102 flattened at $4.31 per pound after two days of downward movement. After dropping for two days, the price of US copper producer grade 110 flattened at $4.12.

Chinese copper closed mixed yesterday. The price of Chinese bright copper scrap fell 0.9 percent on Tuesday to CNY 47,010 ($7,554) per metric ton. Following a two-day drop, the price of Chinese copper wire increased by 0.4 percent to CNY 56,460 ($9,072) per metric ton. After falling for two days, the price of Chinese copper bar rose 0.3 percent to CNY 57,300 ($9,207) per metric ton. The cash price of Chinese copper rose 0.3 percent to CNY 57,500 ($9,239) per metric ton after a two-day drop.