Rio Tinto Oyu Tolgoi Copper Exports Start July 9, China Price Down

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Via Reuters: “Metals traders have been closely watching whether Rio gets official approval to export concentrate from Oyu Tolgoi amid a shortfall in shipments from the Grasberg mine in Indonesia, run by Freeport McMoRan Copper & Gold.”

On MetalMiner’s price index, following two days of increases, the price of Chinese copper wire dropped by 1.1 percent on Friday, July 5. The price of Chinese copper bar declined 1.0 percent. The Chinese copper cash price declined 1.0 percent. Chinese bright copper scrap saw little change in its price last Friday.

Don’t forget to see June 2013 MMI price trends before July’s report comes out tomorrow!

The cash price of primary Japanese copper inched up 0.3 percent. The prices of US copper producer grades 102, 110 and 122 saw little movement last Friday.

On the LME, the copper 3-month price showed little movement last Friday, hovering around $6,926 per metric ton. Also on the LME, the primary copper cash price remained essentially flat at $6,921 per metric ton.