Daily Copper Price Update: LME 3-Month, Producer Grade 122 Drop

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Dropping 0.8 percent, US copper producer grade 110 price was the biggest mover on Wednesday, July 30, closing at $3.90 per pound. The price of US copper producer grade 122 declined 0.8 percent to $3.90 per pound. The price of US copper producer grade 102 saw a 0.7 percent decline to $4.09 per pound. The cash price of primary Japanese copper showed little movement yesterday at JPY 759,000 ($7,436) per metric ton.

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Chinese copper closed mixed on Wednesday. The price of Chinese copper wire declined 0.6 percent to CNY 50,405 ($8,156) per metric ton. Chinese copper bar ended the day at CNY 51,300 ($8,301) per metric ton, after the 0.5 percent drop yesterday. The cash price of Chinese copper weakened by 0.5 percent, settling at CNY 51,500 ($8,333) per metric ton. For the fifth consecutive day, the price of Chinese bright copper scrap held flat at CNY 44,300 ($7,168) per metric ton.

On the LME, the 3-month price of copper fell 0.3 percent to $7,102 per metric ton. The cash price of primary copper weakened by 0.2 percent on the LME, settling at $7,116 per metric ton.

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