Daily Copper Market Roundup: LME 3-Month Price Improves

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Rising 0.8 percent to close at $7,717 per metric ton, the 3-month price of LME copper experienced the biggest change on global copper markets 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, as did the price of US copper producer grade 110. The price of US copper producer grade 102 rose 0.5 percent as well.

Meanwhile, Asian copper prices were up and down.

For the fifth consecutive day, the cash price of primary Japanese copper held flat above $8,000 per metric ton.

Chinese copper closed mixed yesterday.

Chinese copper wire saw its price rise 0.2 percent, and the price of Chinese copper bar remained steady at below $9,100 per metric ton. The Chinese copper cash price saw little price change on Tuesday, staying above $9,100 per metric ton. Chinese bright copper scrap stayed flat, below $7,700 per metric ton.

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