Prices Hit 30-Day Low for Cash Price of Primary Copper

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Metal Prices, Premium

The cash price of primary copper saw the biggest decline of the day, dropping 1.4 percent on the LME to close at $6,875 per metric ton on Tuesday, April 23. Yesterdayon Tuesday price drop of 1.3 percent carried the copper 3-month price to a 30-day low of $6,916 per metric ton on the LME.

The price of US copper producer grade 122 fell to a 30-day low at $3.79 per pound after shifting 0.5 percent. US copper producer grade 110 saw its price drop 0.5 percent to a 30-day low of $3.79 per pound on Tuesday. The price of US copper producer grade 102 fell 0.5 percent to a 30-day low of $3.98 per pound yesterday. The Japanese copper cash price remained essentially flat at JPY 722,000 ($7,279) per metric ton.

Chinese copper prices were mixed for the day. After falling 1.2 percent to CNY 50,130 ($8,104) per metric ton, the price of Chinese copper wire reached a 30-day low. The price of Chinese copper bar reached a 30-day low after decreasing 0.8 percent to CNY 51,150 ($8,269) per metric ton. The cash price of Chinese copper fell to a 30-day low at CNY 51,350 ($8,301) per metric ton after shifting 0.8 percent. At CNY 42,030 ($6,795) per metric ton, the price of Chinese bright copper scrap was essentially unchanged.