LME Copper Cash Price Drops, China Wire Increases

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Dropping 1.9 percent on the LME, the copper cash price was the biggest mover on Thursday, August 8, closing at $6,891 per metric ton. Also on the LME, the 3-month price of copper fell 1.8 percent to $6,918 per metric ton.

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The Japanese copper cash price saw a 0.1 percent decline. The prices of US copper producer grades 102, 110 and 122 showed little movement yesterday.

Chinese copper closed mixed on Thursday. Chinese copper bar prices inched up 1.8 percent. After a 1.8 percent increase, the cash price of Chinese copper finished the day up. The price of Chinese copper wire increased 1.7 percent. The price of Chinese bright copper scrap held steady.

Don’t forget to read July 2013 MMI analysis before August’s report comes out next week!