Cash Price of Japanese Primary Copper Falls

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The cash price of Japanese primary copper saw a 3.2 percent drop on April 18, 2012, landing at JPY 674,000 ($8,353) per metric ton and making it the biggest mover of the day. US copper producer grade 110 held its value at $6.62 per pound. The price of US copper producer grade 102 showed little movement as well, holding at $6.81 per pound.

Movement of Chinese copper prices varied. Chinese bright copper scrap prices saw a 1.6 percent decline to CNY 49,700 ($7,886) per metric ton. After a 0.9 percent increase, the cash price of copper finished the day on the SHFE at CNY 58,400 ($9,266) per metric ton. Chinese copper wire saw its price rise 0.5 percent to CNY 57,100 ($9,060) per metric ton.

On the LME, the 3-month price of primary copper declined 1.3 percent to $8,015 per metric ton. Also on the LME, the cash price of primary copper fell 0.8 percent to $8,100 per metric ton.

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