Copper 3-Month Price Improves 0.3%

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The 3-month price of copper saw a 0.3 percent increase on Monday, November 4, reaching $7,264 per metric ton on the LME and making it the biggest mover for the day. Also on the LME, the cash price of primary copper increased 0.3 percent to $7,255 per metric ton.

The price of US copper producer grade 122 saw little movement yesterday at $3.99 per pound. The Japanese copper cash price steadied at JPY 752,000 ($7,648) per metric ton following two-days of increases. The price of US copper producer grade 102 showed little movement on Monday at $4.18 per pound. The price of US copper producer grade 110 saw little price change on Monday at $3.99 per pound.

Chinese copper prices were mixed for the day. Chinese copper wire gained 0.3 percent to finish at CNY 52,080 ($8,543) per metric ton. Following a two-day rise, the price of Chinese copper bar flattened at CNY 52,870 ($8,673). The Chinese copper cash price flattened at CNY 53,070 ($8,706) after two days of improvement. The price of Chinese bright copper scrap showed little movement yesterday at CNY 42,810 ($7,023) per metric ton.

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