3-Month Price of Copper Shifts Up 0.9%

by on
Style:
Category:
Metal Prices
At $7,355 per metric ton, the 3-month price of copper moved up 0.9 percent on Thursday, January 9, making it the day’s biggest mover on the LME. At $7,367, the cash price of primary copper finished the market day on the LME up 0.7 percent per metric ton.

The Japanese copper cash price rose 0.6 percent to JPY 810,000 ($7,725) per metric ton. The price of US copper producer grade 122 closed Thursday at $4.09 per pound, halting its two-day flat run with a 0.2 percent decline. The price of US copper producer grade 110 dropped by 0.2 percent to $4.09 per pound after holding steady. Thursday saw the price of US copper producer grade 102 drift down 0.2 percent to $4.28 per pound after a couple of stagnant days.

Chinese copper prices were mixed for the day. The price of Chinese copper bar closed at CNY 52,950 ($8,749) per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.4 percent. The cash price of Chinese copper changed direction with a 0.4 percent drop. After two days of improving prices, the metal finished at CNY 53,150 ($8,782) per metric ton. The price of Chinese copper wire remained steady at CNY 52,250 ($8,633) per metric ton. Chinese bright copper scrap stayed flat at around CNY 43,220 ($7,141) per metric ton.

{Comments Off on 3-Month Price of Copper Shifts Up 0.9% Comments Off on 3-Month Price of Copper Shifts Up 0.9%}