Daily Copper Roundup: Chinese Wire Price Shifts 1.6%

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Chinese copper wire saw a 1.6 percent increase on May 22, 2012, making it the biggest upwards shift of the day on global copper markets. The price of Chinese bright copper scrap finished the market day up one percent. Chinese copper bar saw its price rise 0.1 percent. The cash price of Chinese copper inched up 0.1 percent as well.

US copper producer prices, meanwhile are heading up again.

The price of US copper producer grade 122 increased one percent. Following a two-day drop, the price of US copper producer grade 110 also increased by one percent. The price of US copper producer grade 102 is back up, rising by 0.9 percent on Tuesday. The Japanese copper cash price saw little price change yesterday, remaining between $8,050 and $9,000 per metric ton.

On the LME, the primary copper cash price held steady around $7,799 per metric ton. Following a two-day rise on the LME, the 3-month price of copper flattened at $7,745.

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