Chinese Copper Bar Falls; LME Primary Copper Weakens

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On Friday, January 24, the day’s biggest mover was the price of US copper producer grade 110, which saw a 1.2 percent decline. The price of US copper producer grade 122 saw a 1.2 percent decline. The price of US copper producer grade 102 declined 1.2 percent. The cash price of primary Japanese copper closed. Following a couple days of improvement, prices fell by 0.5 percent.

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Chinese copper closed mixed last Friday. Chinese copper bar fell 0.4 percent last Friday. The Chinese copper cash price fell 0.4 percent. Chinese copper wire finished the day down 0.4 percent. Chinese bright copper scrap stayed flat.

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Following a quiet couple of days, the cash price of primary copper fell 0.6 percent last Friday on the LME to $7,285 per metric ton. The copper 3-month price weakened by 0.4 percent on the LME, settling at $7,257 per metric ton.