Copper 3-Month Price Drifts Downwards

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The day’s biggest mover was the 3-month price of copper which dropped by 1.1 percent on Friday, November 8 to close at $7,117 per metric ton on the LME. Also on the LME, the primary copper cash price fell 1.1 percent to $7,119 per metric ton.

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The Japanese copper cash price weakened by 0.4 percent. The price of US copper producer grade 122 increased 0.3 percent. The price of US copper producer grade 110 rose 0.3 percent. The price of US copper producer grade 102 finished the market day up 0.2 percent per pound.

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Chinese copper closed mixed last Friday. After a 0.4 percent increase, Chinese copper bar finished the day. The cash price of Chinese copper rose 0.4 percent. The price of Chinese copper wire remained essentially flat, as did the price of Chinese bright copper scrap for the fifth day in a row.