Chinese Copper Bar 0.8% Lower

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Metal Prices, Premium

The price of Chinese copper bar fell 0.8 percent on March 22, 2013 to CNY 56,820 ($9,146) per metric ton, making it the day’s biggest mover. Weakening prices followed two days of improvement as the cash price of Chinese copper dropped 0.8 percent to CNY 57,020 ($9,178) per metric ton. The price of Chinese copper wire declined 0.8 percent to CNY 55,870 ($8,993) per metric ton. The price of Chinese bright copper scrap gained 0.6 percent, closing at CNY 47,130 ($7,586) per metric ton.

The price of US copper producer grade 122 weakened by 0.2 percent, settling at $4.06 per pound. The price of US copper producer grade 110 saw a 0.2 percent decline to $4.06 per pound. The price of US copper producer grade 102 fell 0.2 percent to $4.25 per pound. The Japanese copper cash price saw essentially no change for the fifth day in a row, remaining around JPY 640,000 ($6,743) per metric ton.

On the LME, the 3-month price of copper rose 0.3 percent to $7,626 per metric ton. Also on the LME, the primary copper cash price showed little movement last Friday, hovering around $7,575 per metric ton.