Daily Copper Roundup – Chinese Prices Drop

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.

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