LME, US Producer Copper Prices Improve

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Rising 1.3 percent to close at $8,195 per metric ton, the cash price of LME primary copper experienced the biggest change on global copper markets for May 11, 2012. Also on the LME, the primary copper 3-month price inched up one percent to $8,052 per metric ton.

The price of US copper producer grade 122 gained 0.5 percent. The US copper producer grade 110 price finished the market day up 0.5 percent per pound. Also, the price of US copper producer grade 102 increased 0.4 percent.

Asian Copper Markets

Meanwhile, the Japanese primary copper cash price fell 0.4 percent.

Chinese copper prices closed flat for the day. Chinese copper bar stayed flat, remaining below $9,300 per metric ton. On the SHFE, the cash price of Chinese primary copper saw little change in its price last Friday at CNY 58,820 ($9,321) per metric ton. Staying between $9,150 and $9,200 per metric ton, the price of Chinese copper wire was essentially unchanged. The price of Chinese bright copper scrap remained steady at above $8,000 per metric ton.

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