3-Month Price of Copper Drifts Downwards

The day’s biggest mover was the copper 3-month price which dropped by 1.3 percent on Friday, January 10 to close at $7,263 per metric ton on the LME. The primary copper cash price saw a 1.2 percent decline on the LME to $7,281 per metric ton.

The price of US copper producer grade 122 declined 1.0 percent to $4.05 per pound. The price of US copper producer grade 110 fell 1.0 percent to $4.05 per pound. The price of US copper producer grade 102 weakened by 0.9 percent, settling at $4.24 per pound. A 30-day high was reached by the cash price of primary Japanese copper following a 0.1 percent increase, to finish at JPY 809,000 ($7,716) per metric ton.

Chinese copper closed mixed last Friday. Chinese copper bar ended the day at CNY 52,430 ($8,661) per metric ton, after the 1.0 percent drop last Friday. The cash price of Chinese copper fell 1.0 percent to CNY 52,630 ($8,694) per metric ton. Chinese copper wire finished the day down 0.7 percent to CNY 51,875 ($8,569) per metric ton. Chinese bright copper scrap stayed flat at around CNY 43,220 ($7,139) per metric ton.