Chinese Copper Bar Changes Direction

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Metal Prices, Premium

The price of Chinese copper bar fell 1.5 percent on Thursday, July 18 to CNY 51,230 ($8,351) per metric ton, making it the day’s biggest mover. After improving for two days, the cash price of Chinese copper declined 1.5 percent to CNY 51,430 ($8,384) per metric ton. The price of Chinese copper wire fell 1.2 percent to CNY 50,270 ($8,195) per metric ton. The price of Chinese bright copper scrap held steady at CNY 41,600 ($6,782) per metric ton.

The price of US copper producer grade 122 declined 1.3 percent to $3.81 per pound. The price of US copper producer grade 110 weakened by 1.3 percent, settling at $3.81 per pound. The price of US copper producer grade 102 fell 1.2 percent to $4.00 per pound. The Japanese copper cash price gained 0.6 percent to finish at JPY 725,000 ($7,282) per metric ton.

The copper 3-month price saw a 0.4 percent decline on the LME to $6,939 per metric ton. Also on the LME, the primary copper cash price declined 0.2 percent to $6,923 per metric ton.