Japanese Copper Cash Price Up 1.4%, LME 3-Month Copper Rises Too

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The cash price of Japanese primary copper saw the biggest increase in copper markets on May 1, 2012, rising 1.4 percent.

For the seventh day in a row, the prices of US copper producer grades 102 and 110 rose.

Chinese copper prices closed flat for the day. The Chinese primary copper cash price held steady yesterday on the SHFE, remaining around CNY 59,350 ($9,451) per metric ton. At above $9,200 per metric ton, the price of Chinese copper wire was essentially unchanged. The price of Chinese bright copper scrap remained steady below $8,000 per metric ton.

The primary copper cash price on the LME has been on the rise for ten days and is now at $8,529 per metric ton. Also on the LME, the 3-month price of primary copper rose 0.7 percent to $8,377 per metric ton.

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