Cash Price of Primary Copper Drifts Downwards

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Metal Prices, Premium

On Friday, July 26, the day’s biggest mover was the cash price of primary copper, which saw a 2.1 percent decline on the LME to $6,927 per metric ton. Also on the LME, the copper 3-month price fell 2.1 percent to $6,948 per metric ton.

At JPY 738,000 ($7,435), the Japanese copper cash price finished the market day up 1.1 percent per metric ton. The price of US copper producer grade 122 saw little change in its price last Friday at $3.85 per pound. The price of US copper producer grade 102 showed little movement last Friday at $4.04 per pound. The price of US copper producer grade 110 showed little movement last Friday, hovering around $3.85 per pound.

Chinese copper closed mixed last Friday. Chinese copper wire finished the day down 0.6 percent to CNY 50,850 ($8,287) per metric ton. The price of Chinese copper bar declined 0.2 percent to CNY 52,000 ($8,474) per metric ton. The cash price of Chinese copper saw a 0.2 percent decline to CNY 52,200 ($8,507) per metric ton. Chinese bright copper scrap held its value last Friday at CNY 44,400 ($7,236) per metric ton.