Chinese Copper Improves Slightly

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On Thursday, January 16, the day’s biggest mover was the cash price of Chinese copper, which saw a 0.5 percent increase. Chinese copper bar gained 0.5 percent to finish. Closing out a three-day flat streak, the price of Chinese copper wire moved up 0.4 percent. The price of Chinese bright copper scrap saw little movement.

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After a 0.5 percent increase, the price of US copper producer grade 122 finished the day. The price of US copper producer grade 110 inched up 0.5 percent. The price of US copper producer grade 102 rose 0.5 percent. The cash price of primary Japanese copper rose 0.1 percent after a two-day drop.

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The primary copper cash price declined 0.5 percent on the LME to $7,308 per metric ton, after two days of improvement. Following two days of rising prices, the copper 3-month price dropped 0.4 percent on the LME to $7,290 per metric ton.