Chinese Copper Wire Closes 30-Day Low; LME Copper Up After Days of Decreases

On Wednesday, March 5, Chinese copper wire rose 1.1 percent to finish as the day’s biggest mover. Just off of a 30-day low the price of Chinese copper bar rose 1.1 percent on Wednesday. The cash price of Chinese copper rose 1.1 percent yesterday, just off the 30-day low, hit on Monday, March 3. The price of Chinese bright copper scrap remained essentially flat.

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Following a 1.0 percent rise yesterday, the price of US copper producer grade 122 closed. The price of US copper producer grade 110 is back up, rising by 1.0 percent on Wednesday to close. The price of US copper producer grade 102 rose 1.0 percent. The cash price of primary Japanese copper fell 0.5 percent.

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Following a two-day drop, the copper 3-month price increased by 0.5 percent on the LME to $6,995 per metric ton. After a couple of days of decreasing prices on the LME, the cash price of primary copper held steady at $7,035.

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