US Copper Producer Grade 110 Price Drifts Down 1.3%

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US copper producer grade 110 prices saw the biggest shift of the day on copper markets, dropping 1.3 percent to close at $6.68 per pound on May 9, 2012. The price of US copper producer grade 122 also weakened by 1.3 percent, settling at $6 per pound. The price of US copper producer grade 102 declined 1.3 percent to $6.87 per pound. The Japanese primary copper cash price remained essentially flat at JPY 685,000 ($8,578) per metric ton.

Chinese copper prices were down for the day. At CNY 58,530 ($9,300) per metric ton, Chinese copper bar fell 0.6 percent yesterday. The cash price of Chinese primary copper saw a 0.6 percent decline on the SHFE to CNY 58,730 ($9,332) per metric ton. Chinese copper wire prices saw a 0.5 percent decline to CNY 57,740 ($9,174) per metric ton. Following a quiet couple of days, the price of Chinese bright copper scrap fell 0.2 percent on Wednesday to CNY 50,500 ($8,024) per metric ton.

On the LME, the 3-month price of primary copper fell 1.1 percent to $8,132 per metric ton. The primary copper cash price saw a 0.7 percent decline on the LME to $8,234 per metric ton.

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