Chinese Copper Bar Drifts 1.1%

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Metal Prices, Premium

Closing at CNY 52,800 ($8,621) per metric ton on Tuesday, June 18, Chinese copper bar saw the biggest change at a 1.1 percent. The cash price of Chinese copper saw a 1.1 percent decline to CNY 53,000 ($8,654) per metric ton. Chinese copper wire finished the day down 1.0 percent to CNY 51,900 ($8,474) per metric ton. The price of Chinese bright copper scrap continues hovering around CNY 44,980 ($7,344) per metric ton for the fifth day in a row.

Following a 0.6 percent rise yesterday, the Japanese copper cash price closed at JPY 699,000 ($7,391) per metric ton. The price of US copper producer grade 122 gained 0.5 percent to finish at $3.87 per pound. The price of US copper producer grade 110 rose 0.5 percent to $3.87 per pound. The price of US copper producer grade 102 increased 0.5 percent to $4.06 per pound.

On the LME, the primary copper cash price fell 0.3 percent to $7,020 per metric ton. The copper 3-month price weakened by 0.3 percent on the LME, settling at $7,065 per metric ton.