Small Shift Up For Chinese Copper Wire

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Closing at CNY 56,675 ($8,959) per metric ton on the May 21, 2012, Chinese copper wire rose 1.2 percent to finish as the day’s biggest mover. Chinese copper bar finished the day up one percent to CNY 57,550 ($9,098) per metric ton. The Chinese copper cash price inched up one percent to CNY 57,750 ($9,129) per metric ton. Chinese bright copper scrap stayed flat at around CNY 48,550 ($7,675) per metric ton.

The price of US copper producer grade 122 weakened by 0.5 percent, settling at $4 per pound. The price of US copper producer grade 110 has been on the decline for nine days and is now at $4.10 per pound. The price of US copper producer grade 102 has been on the decline for nine days and is now at $4.29 per pound. After a couple of days of decreasing prices, the Japanese copper cash price held steady at JPY 640,000 ($8,064).

On the LME, the cash price of primary copper increased 1.1 percent to $7,795 per metric ton. Also on the LME, the 3-month price of copper rose 0.9 percent to $7,744 per metric ton.

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