Chinese Copper Bar Shifts 0.9%

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Metal Prices, Premium

Chinese copper bar saw the biggest upwards shift for the day, rising 0.9 percent to close at CNY 52,000 ($8,409) per metric ton on Wednesday, July 17. The Chinese copper cash price gained 0.9 percent to finish at CNY 52,200 ($8,442) per metric ton. Following a 0.7 percent rise yesterday, the price of Chinese copper wire closed at CNY 50,880 ($8,228) per metric ton. After a couple of days of decreasing prices, the price of Chinese bright copper scrap held steady at CNY 41,600 ($6,728).

The Japanese copper cash price increased 0.8 percent to JPY 721,000 ($7,275) per metric ton. Following a two-day drop, the price of US copper producer grade 122 increased by 0.8 percent to $3.86 per pound. The price of US copper producer grade 110 is back up, rising by 0.8 percent on Wednesday to close at $3.86 per pound. After falling for two days, the price of US copper producer grade 102 rose 0.7 percent to $4.05 per pound.

The primary copper cash price rose 0.7 percent on the LME to $6,936 per metric ton after a two-day drop. The 3-month price of copper is back up, rising by 0.7 percent on the LME on Wednesday to close at $6,964 per metric ton.