Chinese Copper Bar Price Drops 2.3%

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On March 18, 2013, Chinese copper bar fell by 2.3 percent to CNY 56,500 ($8,986) per metric ton, making it the day’s biggest mover. The cash price of Chinese copper declined 2.3 percent to CNY 56,700 ($9,017) per metric ton. The price of Chinese copper wire fell 2.1 percent to CNY 55,610 ($8,844) per metric ton. The price of Chinese bright copper scrap continues hovering around CNY 46,850 ($7,451) per metric ton for the fifth day in a row.

The price of US copper producer grade 122 fell 0.5 percent to $4.14 per pound. The price of US copper producer grade 110 saw a 0.5 percent decline to $4.14 per pound. The price of US copper producer grade 102 fell 0.5 percent to $4.33 per pound. The cash price of primary Japanese copper held steady at JPY 640,000 ($6,744) per metric ton.

On the LME, the copper 3-month price increased 0.3 percent to $7,811 per metric ton. Also on the LME, the primary copper cash price inched up 0.3 percent to $7,781 per metric ton.