Daily Copper Roundup: Chinese Bar Price Moves Up

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On May 28, 2012, Chinese copper bar jumped up 1.4 percent, making it the day’s biggest increase on global copper markets. Prices for other Chinese copper forms increased on the day as well…

The cash price of Chinese copper rose 1.4 percent, while Chinese copper wire finished the day up 1.1 percent. Following two days of downward movement, the price of Chinese bright copper scrap held steady at between $7,650 and $7,700 per metric ton.

For the fifth consecutive day, the Japanese primary copper cash price held flat at below $8,050 per metric ton.

At $7,654 per metric ton, the copper 3-month price finished the market day on the LME up 0.6 percent. Also on the LME, the primary copper cash price gained 0.5 percent to finish at $7,695 per metric ton.

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