Price Of US Copper Producer Grade 122 Up Again

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The price of US copper producer grade 110 closed as the biggest mover for May 25, 2012. Switching from a downward trend, the metal closed at $4.06 per pound following a 0.7 percent increase. The price of US copper producer grade 122 rose 0.7 percent to $4 per pound after a two-day drop. Following a 0.7 percent rise last Friday, the price of US copper producer grade 102 closed at $4.25 per pound. For the fifth day in a row, the cash price of primary Japanese copper remained essentially flat at JPY 640,000 ($8,056) per metric ton.

Chinese copper closed mixed last Friday. Chinese bright copper scrap prices saw a 0.4 percent decline to CNY 48,600 ($7,672) per metric ton. Chinese copper wire prices rose 0.3 percent to CNY 56,000 ($8,840) per metric ton. The price of Chinese copper bar flattened at CNY 56,780 ($8,963) following two-days of declines. The Chinese copper cash price flattened at CNY 56,980 ($8,995) per metric ton after two days of downward movement.

Following a two-day drop, the cash price of primary copper increased by 0.4 percent on the LME to $7,659 per metric ton. Also on the LME, the 3-month price of copper gained 0.3 percent to finish at $7,612 per metric ton.

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