Copper 3-Month Price Down

With a decline of 0.5 percent on the LME to $7,180 per metric ton on Thursday, October 17, the copper 3-month price recorded the biggest decline of the day. Also on the LME, the primary copper cash price fell 0.4 percent to $7,158 per metric ton.

Weakening prices followed two days of improvement as the Japanese copper cash price dropped 0.3 percent to JPY 744,000 ($7,521) per metric ton. The price of US copper producer grade 122 ended a two-day climb, settling at $3.98 per pound. The price of US copper producer grade 102 flattened at $4.17 after two days of improvement. Following a two-day rise, the price of US copper producer grade 110 flattened at $3.98.

Chinese copper closed mixed yesterday. After improving for two days, the price of Chinese copper bar declined 0.2 percent to CNY 53,350 ($8,745) per metric ton. The Chinese copper cash price closed at CNY 53,550 ($8,778) per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.2 percent. The price of Chinese copper wire remained essentially flat at CNY 52,490 ($8,604) per metric ton. The price of Chinese bright copper scrap saw little movement at CNY 43,140 ($7,072) per metric ton.

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