Chinese Copper Bar Sees 0.9% Decline

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Metal Prices, Premium

With a decline of 0.9 percent to CNY 52,050 ($8,543) per metric ton on Wednesday, November 13, Chinese copper bar recorded the biggest price drift of the day. The cash price of Chinese copper weakened by 0.9 percent, settling at CNY 52,250 ($8,576) per metric ton. Chinese copper wire ended the day at CNY 51,200 ($8,403) per metric ton, after the 0.8 percent drop yesterday. Chinese bright copper scrap held its value on Wednesday at CNY 44,800 ($7,353) per metric ton.

Following a couple days of improvement, the price of US copper producer grade 122 weakened by 0.8 percent. Prices closed at $3.93 per pound. After improving for two days, the price of US copper producer grade 110 declined 0.8 percent to $3.93 per pound. Weakening prices followed two days of improvement as the price of US copper producer grade 102 dropped 0.7 percent to $4.12 per pound. After a 0.4 percent increase, the cash price of primary Japanese copper finished the day at JPY 745,000 ($7,478) per metric ton.

The primary copper cash price saw a 0.1 percent decline on the LME to $7,124 per metric ton. Also on the LME, the 3-month price of copper saw little movement yesterday at $7,128 per metric ton.

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