Cash Price of Japanese Copper Improve

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Metal Prices
Strengthening prices ended a three-day flat streak as the Japanese copper cash price moved up by 1.3 percent on Tuesday, January 7 to JPY 805,000 ($7,724) per metric ton. Following two days of downward movement, the price of US copper producer grade 110 held steady at $4.10 per pound. After a couple of days of decreasing prices, the price of US copper producer grade 102 held steady at $4.29. The price of US copper producer grade 122 steadied at $4.10 per pound following two-days of dropping prices.

Chinese copper closed mixed on Tuesday. Chinese copper bar saw its price rise 0.1 percent to CNY 53,050 ($8,765) per metric ton. The cash price of Chinese copper rose 0.1 percent to CNY 53,250 ($8,798) per metric ton. Chinese copper wire saw little change in its price yesterday at CNY 52,090 ($8,607) per metric ton. At CNY 43,010 ($7,106) per metric ton, the price of Chinese bright copper scrap was essentially unchanged.

On the LME, the copper 3-month price declined 0.4 percent to $7,290 per metric ton. The cash price of primary copper weakened by 0.3 percent on the LME, settling at $7,313 per metric ton.

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