On May 24, 2012, the day’s biggest mover was Chinese copper wire, which saw a 3.1 percent decline to CNY 55,850 ($8,823) per metric ton. Chinese bright copper scrap prices saw a 0.5 percent decline to CNY 48,800 ($7,709) per metric ton. The price of Chinese copper bar declined 0.4 percent to CNY 56,730 ($8,962) per metric ton. The Chinese copper cash price declined 0.4 percent to CNY 56,930 ($8,993) per metric ton.
The price of US copper producer grade 122 weakened by 2.2 percent, settling at $4 per pound. The price of US copper producer grade 110 saw a 2.2 percent decline to $4.03 per pound. The price of US copper producer grade 102 fell 2.1 percent to $4.22 per pound. The cash price of primary Japanese copper saw little movement on Thursday at JPY 640,000 ($8,054) per metric ton.
The copper 3-month price dropped by two percent on the LME to $7,590 per metric ton after holding steady. The primary copper cash price weakened by 1.8 percent on the LME, settling at $7,630 per metric ton.