On Wednesday, November 27, Chinese copper bar fell by 0.5 percent to CNY 51,680 ($8,482) per metric ton, making it the day’s biggest mover. The Chinese copper cash price declined 0.5 percent to CNY 51,880 ($8,515) per metric ton. The price of Chinese copper wire fell 0.5 percent to CNY 50,845 ($8,345) per metric ton. The price of Chinese bright copper scrap held steady at CNY 43,230 ($7,095) per metric ton.
Weakening prices followed two days of improvement as the price of US copper producer grade 122 dropped 0.3 percent to $3.92 per pound. The price of US copper producer grade 110 closed at $3.92 per pound. Following a couple days of improvement, the metal’s price weakened by 0.3 percent. The price of US copper producer grade 102 closed at $4.11 per pound. Following a couple days of improvement, prices fell by 0.2 percent. After a couple of days of improving prices, the cash price of primary Japanese copper held steady at JPY 753,000 ($7,437).
On the LME, the copper 3-month price remained essentially flat at $7,069 per metric ton. The primary copper cash price saw little price change on Wednesday on the LME at $7,067 per metric ton.