The cash price of Japanese primary copper saw the biggest increase at 1.4 percent, finishing at JPY 713,000 ($8,900) per metric ton for May 1, 2012.

For the seventh day in a row, the price of US copper producer grade 110 rose and is currently at $6.83 per pound. The price of US copper producer grade 102 has been on the rise for seven days and is now at $7.02 per pound.

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 CNY 58,225 ($9,272) per metric ton, the price of Chinese copper wire was essentially unchanged. The price of Chinese bright copper scrap remained steady at CNY 50,050 ($7,970) 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.