The day’s biggest mover on the copper markets was the LME price of primary cash copper which dropped by 1.4 percent on May 14, 2012 to close at $8,080 per metric ton. The 3-month price of primary copper saw a 0.8 percent decline on the LME to $7,990 per metric ton.
Following a two-day drop, the cash price of Japanese primary copper increased by 0.7 percent.
Chinese copper closed mixed yesterday. Chinese copper wire ended the day at below $9,100 per metric ton, after a 1.1 percent drop on Monday. Chinese copper bar finished the day down one percent. On the SHFE, the Chinese primary copper cash price fell one percent to CNY 58,250 ($9,230) per metric ton. The price of Chinese bright copper scrap remained steady at above $8,000 per metric ton.