On Wednesday, December 18, the cash price of primary copper fell by 0.5 percent on the LME, landing at $7,286 per metric ton and making it the day’s biggest mover. The 3-month price of copper weakened by 0.5 percent on the LME, settling at $7,270 per metric ton.
After a 0.5 percent increase, the Japanese copper cash price finished the day at JPY 789,000 ($7,687) per metric ton. Weakening prices followed two days of improvement as the price of US copper producer grade 122 dropped 0.2 percent to $4.06 per pound. The price of US copper producer grade 110 closed at $4.06 per pound. Following a couple days of improvement, the metal’s price weakened by 0.2 percent. The price of US copper producer grade 102 closed at $4.25 per pound. Following a couple days of improvement, prices fell by 0.2 percent.
Chinese copper closed mixed yesterday. Following two days of rising prices, the price of Chinese copper bar dropped 0.5 percent to CNY 52,080 ($8,579) per metric ton. After improving for two days, the Chinese copper cash price declined 0.5 percent to CNY 52,280 ($8,612) per metric ton. For the fifth day in a row, the price of Chinese copper wire remained essentially flat at CNY 51,200 ($8,434) per metric ton. The price of Chinese bright copper scrap held steady at CNY 44,600 ($7,347) per metric ton.