Copper 3-Month Price Improves 0.8%

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Rising 0.8 percent to close at $7,717 per metric ton, the 3-month price of copper experienced the biggest change on the LME for May 29, 2012. Also on the LME, the primary copper cash price increased 0.6 percent to $7,738 per metric ton.

The price of US copper producer grade 122 gained 0.5 percent to finish at $4 per pound. At $4.08, the price of US copper producer grade 110 finished the market day up 0.5 percent per pound. The price of US copper producer grade 102 rose 0.5 percent to $4.27 per pound. For the fifth consecutive day, the cash price of primary Japanese copper held flat at JPY 640,000 ($8,062) per metric ton.

Chinese copper closed mixed yesterday. Chinese copper wire saw its price rise 0.2 percent to CNY 56,750 ($8,963) per metric ton. The price of Chinese copper bar remained steady at CNY 57,500 ($9,081) per metric ton. The Chinese copper cash price saw little price change on Tuesday at CNY 57,700 ($9,113) per metric ton. Chinese bright copper scrap stayed flat at around CNY 48,600 ($7,676) per metric ton.

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