Cash Price of Primary Copper Up 0.8%

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The copper cash price closed as the biggest mover for March 11, 2013. Switching from a downward trend, the metal closed at $7,730 per metric ton following a 0.8 percent increase. After falling for two days, the copper 3-month price rose 0.4 percent on the LME to $7,744 per metric ton.

The price of US copper producer grade 122 saw a 0.2 percent decline to $4.13 per pound. The price of US copper producer grade 110 fell 0.2 percent to $4.13 per pound. The price of US copper producer grade 102 weakened by 0.2 percent, settling at $4.32 per pound. The Japanese copper cash price continues hovering around JPY 640,000 ($6,654) per metric ton for the fifth day in a row.

Chinese copper prices were up for the day. Chinese bright copper scrap gained 0.3 percent to finish at CNY 46,850 ($7,469) per metric ton. At CNY 56,665 ($9,033), the price of Chinese copper wire finished the market day up 0.2 percent per metric ton. Chinese copper bar prices rose 0.1 percent to CNY 57,550 ($9,174) per metric ton. The cash price of Chinese copper gained 0.1 percent to finish at CNY 57,750 ($9,206) per metric ton.