Primary Cash Copper Improves Slightly

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Rising 1.3 percent to close at $8,195 per metric ton, the price of primary cash copper experienced the biggest change on the LME 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 to finish at $6 per pound. At $6.69, the price of US copper producer grade 110 finished the market day up 0.5 percent per pound. The Japanese primary copper cash price fell 0.4 percent to JPY 677,000 ($8,468) per metric ton. The price of US copper producer grade 102 increased 0.4 percent to $6.88 per pound.

Chinese copper prices closed flat for the day. Chinese copper bar stayed flat at around CNY 58,620 ($9,289) 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. At CNY 57,850 ($9,167) per metric ton, the price of Chinese copper wire was essentially unchanged. The price of Chinese bright copper scrap remained steady at CNY 50,500 ($8,002) per metric ton.

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