Copper 3-Month Price Down

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Metal Prices, Premium

With a decline of 0.9 percent on the LME to $7,305 per metric ton on Tuesday, August 20, the 3-month price of copper recorded the biggest decline of the day. The cash price of primary copper weakened by 0.7 percent on the LME, settling at $7,285 per metric ton.

The Japanese copper cash price gained 0.8 percent to finish at JPY 753,000 ($7,716) per metric ton. The price of US copper producer grade 122 declined 0.7 percent to $4.00 per pound. The price of US copper producer grade 110 fell 0.7 percent to $4.00 per pound. The price of US copper producer grade 102 saw a 0.7 percent decline to $4.19 per pound.

Chinese copper closed mixed yesterday. Chinese copper bar closed 0.6 percent lower at CNY 54,000 ($8,819) per metric ton. The cash price of Chinese copper weakened by 0.6 percent, settling at CNY 54,200 ($8,852) per metric ton. Following two days of rising prices, the price of Chinese copper wire dropped 0.5 percent to CNY 53,090 ($8,670) per metric ton. For the fifth consecutive day, the price of Chinese bright copper scrap held flat at CNY 41,890 ($6,841) per metric ton.