Japanese Primary Copper Spot Price Shifts Up

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On April 24, 2012, the day’s biggest mover was Japanese primary copper cash prices, which saw a 1.5 percent increase to JPY 698,000 ($8,605) per metric ton. The US copper producer grade 110 price finished the day down one percent to $6.62 per pound. At $6.81 per pound, the US copper producer grade 102 price fell one percent yesterday.

Chinese copper prices were flat for the day. Following a two-day rise, the price of Chinese copper wire flattened at CNY 57,650 ($9,144). On the SHFE, the cash price of Chinese primary copper held steady around CNY 58,680 ($9,307) per metric ton. The price of Chinese bright copper scrap steadied at CNY 50,150 ($7,954) per metric ton following its short climb.

The 3-month price of LME primary copper weakened by 0.4 percent, settling at $8,049 per metric ton. Primary copper cash prices showed little movement on Tuesday on the LME at $8,125 per metric ton.

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