Copper 3-Month Price Drifts Downwards

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Metal Prices, Premium

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.

The Japanese copper cash price weakened by 0.4 percent, settling at JPY 735,000 ($7,487) per metric ton. The price of US copper producer grade 122 increased 0.3 percent to $3.94 per pound. The price of US copper producer grade 110 rose 0.3 percent to $3.94 per pound. At $4.13, the price of US copper producer grade 102 finished the market day up 0.2 percent per pound.

Chinese copper closed mixed last Friday. After a 0.4 percent increase, Chinese copper bar finished the day at CNY 52,620 ($8,637) per metric ton. The cash price of Chinese copper rose 0.4 percent to CNY 52,820 ($8,670) per metric ton. The price of Chinese copper wire remained essentially flat at CNY 51,610 ($8,471) per metric ton. For the fifth day in a row, the price of Chinese bright copper scrap remained essentially flat at CNY 42,810 ($7,027) per metric ton.

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