3-Month Price of Copper Down

On March 28, 2013, the day’s biggest mover was the copper 3-month price, which saw a 1.2 percent decline on the LME to $7,570 per metric ton. The primary copper cash price weakened by 0.4 percent on the LME, settling at $7,600 per metric ton.

The price of US copper producer grade 122 held steady around $4.07 per pound. The Japanese copper cash price was unchanged at JPY 640,000 ($6,784) per metric ton. The price of US copper producer grade 102 showed little movement on Thursday, hovering around $4.26 per pound. The price of US copper producer grade 110 saw little price change on Thursday at $4.07 per pound.

Chinese copper closed mixed yesterday. Chinese copper wire prices saw a 0.2 percent decline to CNY 55,690 ($8,961) per metric ton. After dropping for two days, the price of Chinese copper bar flattened at CNY 56,650 ($9,115). The cash price of Chinese copper steadied at CNY 56,850 ($9,147) per metric ton following two-days of dropping prices. The price of Chinese bright copper scrap remained essentially flat at CNY 47,460 ($7,636) per metric ton.