Daily Copper Roundup: Japanese Cash Price Sees Small Drop

With a decline of two percent on May 18, 2012, the cash price of Japanese primary copper recorded the biggest shift of the day in global copper prices. The price of US copper producer grade 110 fell 0.2 percent; the US copper producer grade 102 price also declined 0.2 percent. The price of US copper producer grade 122 traded sideways.

Chinese copper prices settled mixed for the end of last week. The price of Chinese bright copper scrap fell 0.7 percent, while Chinese copper wire saw its price rise 0.4 percent. The price of Chinese copper bar finished the market day up 0.2 percent. The Chinese primary copper cash price gained 0.2 percent as well, finishing above $9,000 per metric ton.

The 3-month price of primary copper rose 0.2 percent on the LME to $7,679 per metric ton after a two-day drop. The price of primary cash copper on the LME has been on the decline for seven days and is now at $7,708 per metric ton.

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