LME 3-Month Copper Price Increases 2%

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 on May 10. The price of US copper producer grade 122 saw a 0.3 percent decline, while US copper producer grade 110 prices fell 0.3 percent. The price of US copper producer grade 102 weakened by 0.3 percent as well.

Chinese copper closed mixed on Thursday. The prices of Chinese copper wire and Chinese copper bar rose 0.2 percent. 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 above $8,000 per metric ton.

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