Weakening prices changed direction when the price of Chinese copper bar rose 0.6 percent on Monday, September 16 to CNY 52,940 ($8,651) per metric ton. The price of Chinese copper wire is back up, rising by 0.6 percent yesterday to close at CNY 52,075 ($8,510) per metric ton. Following a 0.5 percent rise on Monday, the Chinese copper cash price closed at CNY 53,140 ($8,684) per metric ton. The price of Chinese bright copper scrap remained essentially flat at CNY 52,750 ($8,620) per metric ton.
The price of US copper producer grade 122 weakened by 0.3 percent, settling at $3.87 per pound. The price of US copper producer grade 110 saw a 0.3 percent decline to $3.87 per pound. The price of US copper producer grade 102 declined 0.2 percent to $4.06 per pound. The Japanese copper cash price saw little price change yesterday at JPY 743,000 ($7,503) per metric ton.
On the LME, the copper 3-month price fell 0.2 percent to $7,060 per metric ton. Also on the LME, the primary copper cash price declined 0.2 percent to $7,028 per metric ton.