Copper Prices Rise in US, Japan, China

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On May 2, 2012, the Japanese primary copper cash price fell by 0.6 percent, making it the day’s biggest mover on copper markets. For the seventh day in a row, the price of US copper producer grade 110 rose; the US copper producer grade 102 price has been on the rise for seven days. After a couple of days of improving prices, the price of US copper producer grade 122 held steady.

Chinese copper prices were mixed for the day. The price of Chinese copper wire improved by 0.4 percent on Wednesday. The price of Chinese copper bar moved up 0.4 percent as well. The cash price of Chinese primary copper rose by 0.4 percent on the SHFE to CNY 59,580 ($9,440) yesterday after remaining flat for two days. The price of Chinese bright copper scrap remained essentially flat at below $8,000 per metric ton.

The 3-month price of primary copper on the LME has been on the rise for eight days and is now at $8,390 per metric ton. The primary copper cash price flattened at $8,528 after two days of improvement on the LME.

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