Chinese Copper Wire Down 2.2%

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Metal Prices, Premium

The day’s biggest mover broke away from a static phase with a 2.2 percent drop on Monday, June 17. After three changeless days, the price of Chinese copper wire closed at CNY 52,400 ($8,547) per metric ton. The price of Chinese copper bar fell 0.2 percent to CNY 53,380 ($8,707) per metric ton. The Chinese copper cash price declined 0.2 percent to CNY 53,580 ($8,740) per metric ton. The price of Chinese bright copper scrap was unchanged at CNY 44,980 ($7,337) per metric ton.

The Japanese copper cash price fell 1.6 percent to JPY 695,000 ($7,368) per metric ton. The price of US copper producer grade 122 remained essentially flat at $3.85 per pound. The price of US copper producer grade 102 showed little movement yesterday, hovering around $4.04 per pound. The price of US copper producer grade 110 saw little change in its price yesterday at $3.85 per pound.

The cash price of primary copper saw a 0.2 percent decline on the LME to $7,044 per metric ton. The copper 3-month price weakened by 0.1 percent on the LME, settling at $7,085 per metric ton.