Copper Cash Price Drifts Downwards

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Metal Prices, Premium

On Wednesday, June 12, the cash price of primary copper fell by 1.2 percent on the LME, landing at $7,035 per metric ton and making it the day’s biggest mover. Also on the LME, the 3-month price of copper declined 1.1 percent to $7,070 per metric ton.

The price of US copper producer grade 122 fell 1.0 percent to $3.86 per pound. The price of US copper producer grade 110 weakened by 1.0 percent, settling at $3.86 per pound. The price of US copper producer grade 102 saw a 1.0 percent decline to $4.05 per pound. The cash price of primary Japanese copper flattened at JPY 735,000 ($7,639) per metric ton after two days of downward movement.

Chinese copper prices closed flat for the day. The price of Chinese copper bar showed little movement yesterday at CNY 54,500 ($8,882) per metric ton. The Chinese copper cash price held steady yesterday, remaining around CNY 54,700 ($8,914) per metric ton. The price of Chinese copper wire held steady at CNY 53,600 ($8,735) per metric ton. For the fifth day in a row, the price of Chinese bright copper scrap remained essentially flat at CNY 44,980 ($7,330) per metric ton.