The day’s biggest mover was the price of primary cash copper which dropped by 1.4 percent on May 14, 2012 to close at $8,080 per metric ton on the LME. 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 to JPY 682,000 ($8,530) per metric ton.
Chinese copper closed mixed yesterday. Chinese copper wire ended the day at CNY 57,200 ($9,064) per metric ton, after the 1.1 percent drop on Monday. Chinese copper bar finished the day down one percent to CNY 58,050 ($9,199) per metric ton. 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 CNY 50,500 ($8,002) per metric ton.