Copper 3-Month Price Sees Small Jump

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Metal Prices
On Wednesday, January 15, the 3-month price of copper experienced the biggest change, rising 0.6 percent on the LME to $7,319 per metric ton. Also on the LME, the cash price of primary copper gained 0.5 percent to finish at $7,342 per metric ton.

The Japanese copper cash price declined 0.5 percent to JPY 792,000 ($7,601) per metric ton. Following a couple days of improvement, the price of US copper producer grade 122 weakened by 0.2 percent. Prices closed at $4.08 per pound. Weakening prices followed two days of improvement as the price of US copper producer grade 110 dropped 0.2 percent to $4.08 per pound. After improving for two days, the price of US copper producer grade 102 declined 0.2 percent to $4.27 per pound.

Chinese copper closed mixed yesterday. The cash price of Chinese copper fell 0.5 percent to CNY 52,900 ($8,758) per metric ton. Chinese copper bar closed 0.4 percent lower at CNY 52,740 ($8,731) per metric ton. The price of Chinese copper wire held steady at CNY 51,910 ($8,594) per metric ton. For the fifth consecutive day, the price of Chinese bright copper scrap held flat at CNY 43,200 ($7,152) per metric ton.

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