On Wednesday, October 2, the day’s biggest mover was the price of US copper producer grade 110, which saw a 1.3 percent decline to $3.94 per pound. After falling 1.3 percent, prices settled at $3.94 per pound, driving an accelerated drop-off since Thursday, September 26. Today marks the fifth day in a row of declining prices for the price of US copper producer grade 122. The price of US copper producer grade 102 continues its trend downwards. Finishing the day at $4.13 per pound, it dropped 1.2 percent. The Japanese copper cash price gained 0.7 percent to finish at JPY 750,000 ($7,657) per metric ton.
Chinese copper prices closed flat for the day. Chinese copper bar saw little change in its price yesterday at CNY 53,600 ($8,758) per metric ton. The Chinese copper cash price held steady around CNY 53,800 ($8,791) per metric ton. At CNY 52,650 ($8,603) per metric ton, the price of Chinese copper wire was essentially unchanged. The price of Chinese bright copper scrap held steady at CNY 42,830 ($6,998) per metric ton.
Following two days of rising prices, the primary copper cash price dropped 1.0 percent on the LME to $7,219 per metric ton. After improving for two days, the copper 3-month price declined 0.8 percent on the LME to $7,235 per metric ton.