Chinese Copper Wire Down 1.2%

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Metal Prices, Premium

Chinese copper wire saw the biggest price decline of the day, dropping 1.2 percent to close at CNY 49,340 ($8,048) per metric ton on Wednesday, July 10. Chinese copper bar closed 1.0 percent lower at CNY 50,350 ($8,213) per metric ton. The Chinese copper cash price weakened by 1.0 percent, settling at CNY 50,550 ($8,246) per metric ton. The price of Chinese bright copper scrap held steady at CNY 41,060 ($6,698) per metric ton.

The price of US copper producer grade 122 fell 1.1 percent to $3.74 per pound. The price of US copper producer grade 110 saw a 1.1 percent decline to $3.74 per pound. The price of US copper producer grade 102 declined 1.0 percent to $3.93 per pound. Following a 0.1 percent rise on Wednesday, the cash price of primary Japanese copper closed at JPY 720,000 ($7,116) per metric ton.

On the LME, the 3-month price of copper fell 0.7 percent to $6,728 per metric ton. Also on the LME, the primary copper cash price declined 0.7 percent to $6,719 per metric ton.