Following two days of increases on the LME, the copper 3-month price dropped by 1.1 percent to end at $6,940 per metric ton on Monday, July 15. The cash price of primary copper closed at $6,923 per metric ton. Following a couple days of improvement, the metal’s price weakened by 1.0 percent on the LME.
Weakening prices followed two days of improvement as the price of US copper producer grade 122 dropped 0.3 percent to $3.84 per pound. The price of US copper producer grade 110 declined 0.3 percent to $3.84 per pound, after two days of improvement. Following two days of rising prices, the price of US copper producer grade 102 dropped 0.2 percent to $4.03 per pound. The cash price of primary Japanese copper showed little movement yesterday, hovering around JPY 711,000 ($7,165) per metric ton.
Chinese copper prices were down for the day. After improving for two days, the price of Chinese copper wire declined 0.8 percent to CNY 50,635 ($8,246) per metric ton. Following a couple days of improvement, the price of Chinese copper bar weakened by 0.8 percent. Prices closed at CNY 51,450 ($8,379) per metric ton. The cash price of Chinese copper changed direction with a 0.8 percent drop. After two days of improving prices, the metal finished at CNY 51,650 ($8,411) per metric ton. At CNY 43,090 ($7,017) per metric ton, Chinese bright copper scrap fell 0.3 percent on Monday.