On May 10, 2012, the day’s biggest mover was the primary copper 3-month price, which saw a two percent decline on the LME to $7,970 per metric ton. At $8,089 per metric ton, primary cash copper fell 1.8 percent on the LME yesterday.
The Japanese primary copper cash price declined 0.7 percent to JPY 680,000 ($8,550) per metric ton. The price of US copper producer grade 122 saw a 0.3 percent decline to $6 per pound. The price of US copper producer grade 110 fell 0.3 percent to $6.66 per pound. The price of US copper producer grade 102 weakened by 0.3 percent, settling at $6.85 per pound.
Chinese copper closed mixed on Thursday. The price of Chinese copper wire rose by 0.2 percent to CNY 57,850 ($9,166) per metric ton. At CNY 58,620 ($9,288), the price of Chinese copper bar finished the market day up 0.2 percent per metric ton. On the SHFE, the cash price of Chinese primary copper inched up 0.2 percent to CNY 58,820 ($9,320) per metric ton. The price of Chinese bright copper scrap remained steady at CNY 50,500 ($8,002) per metric ton.