Japanese Primary Copper Cash Price Falls Hard

On May 8, 2012, the cash price of Japanese primary copper fell by 3.8 percent, making it the day’s biggest mover on the copper markets. The price of US copper producer grade 110 inched up 0.7 percent, while the US copper producer grade 122 price finished the market day up 0.7 percent. The price of US copper producer grade 102 increased 0.7 percent as well.

Chinese copper closed mixed yesterday. Chinese copper wire finished the day with a 0.5 percent increase. The price of Chinese copper bar fell 0.4 percent yesterday, and after remaining flat for three days, the cash price of Chinese primary copper fell 0.4 percent yesterday on the SHFE to CNY 59,080 ($9,391) per metric ton. Holding between $8,000 and $8,100 per metric ton, the price of Chinese bright copper scrap was essentially unchanged.

The 3-month price of primary copper remained essentially flat on the LME at $8,225 per metric ton. The primary copper cash price showed little movement yesterday on the LME at $8,296 per metric ton.

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