Daily Copper Roundup: SHFE Cash Price Drifts
Chinese copper closed mixed overall on Wednesday, May 16, 2012, but the SHFE primary copper cash price decreased, closing at CNY 57,100 ($10,618) per metric ton, after moving down 2 percent.
The price of Chinese copper bar declined two percent, while the price of Chinese bright copper scrap increased 1.7 percent. Chinese copper wire fell as well on Wednesday, dropping 0.9 percent.
The price of primary cash copper saw a 1.6 percent decline on the LME to $7,854 per metric ton. Also on the LME, the primary copper 3-month price fell 0.3 percent to $7,828 per metric ton.
The cash price of Japanese primary copper weakened by 2.5 percent.