LME, SHFE Copper Prices Rise

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The SHFE cash price of copper saw the biggest upwards shift for the day, rising 0.9% to close at CNY $58,400 ($9,266) per metric ton on April 18, 2012. Following a two-day drop, the price of Chinese bright copper scrap increased by 0.5% to CNY $49,700 ($7,886) per metric ton. Chinese copper wire saw its price rise 0.4% to CNY $57,100 ($9,060) per metric ton.

The cash price of Japanese primary copper saw a 0.4% decline to JPY 674,000 ($8,353) per metric ton. The US copper producer grade 110 price gained 0.3% to finish at $6.64 per pound. US copper producer grade 102 saw its price rise 0.3% to $6.83 per pound.

After falling for two days, the cash price of primary copper rose 0.6% on the LME to $8,100 per metric ton. The 3-month price of primary copper rose 0.3% on the LME to $8,015 per metric ton after a two-day drop.

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