Cash Price of Chinese Copper Declines 3.1%

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Metal Prices, Premium

On Thursday, June 20, the day’s biggest mover was the cash price of Chinese copper, which saw a 3.1 percent decline to CNY 51,950 ($8,476) per metric ton. The price of Chinese copper wire fell 1.3 percent to CNY 50,820 ($8,292) per metric ton. Chinese copper bar ended the day at CNY 51,750 ($8,443) per metric ton, after the 1.2 percent drop yesterday. The price of Chinese bright copper scrap continues hovering around CNY 44,980 ($7,339) per metric ton for the fifth day in a row.

The price of US copper producer grade 122 fell 0.3 percent to $3.81 per pound. The price of US copper producer grade 110 saw a 0.3 percent decline to $3.81 per pound. The price of US copper producer grade 102 weakened by 0.2 percent, settling at $4.00 per pound. The cash price of primary Japanese copper saw little price change yesterday at JPY 699,000 ($7,235) per metric ton.

The 3-month price of copper steadied at $7,003 per metric ton following two-days of dropping prices on the LME. After a couple of days of decreasing prices on the LME, the cash price of primary copper held steady at $6,972.