Chinese Copper Wire Rising

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Metal Prices, Premium

The price of Chinese copper wire rose 1.2 percent on Monday, September 23, making it the day’s biggest mover. After two days of flat prices, it closed at CNY 52,550 ($8,590) per metric ton. The price of Chinese copper bar rose by 0.9 percent to CNY 53,350 ($8,721) per metric ton after a three-day flat streak. The Chinese copper cash price rose by 0.9 percent to CNY 53,550 ($8,754) per metric ton. Chinese bright copper scrap saw little change in its price on Monday at CNY 42,830 ($7,001) per metric ton.

The price of US copper producer grade 122 declined 0.5 percent to $3.99 per pound, after two days of improvement. The price of US copper producer grade 110 closed at $3.99 per pound. Following a couple days of improvement, prices fell by 0.5 percent. The price of US copper producer grade 102 changed direction with a 0.5 percent drop. After two days of improving prices, the metal finished at $4.18 per pound. The Japanese copper cash price remained essentially flat at JPY 745,000 ($7,503) per metric ton.

Following a two-day rise on the LME, the cash price of primary copper flattened at $7,294. The 3-month price of copper steadied at $7,329 per metric ton following two-days of increases on the LME.

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