On May 31, 2012, the day’s biggest mover was US copper producer grade 110 price, which saw a two percent decline to $4.02 per pound. Following a couple days of improvement, the price of US copper producer grade 122 weakened by two percent. Prices closed at $4 per pound. The price of US copper producer grade 102 declined 1.9 percent to $4.21 per pound, after two days of improvement. The cash price of primary Japanese copper continues hovering around JPY 640,000 ($8,091) per metric ton for the fifth day in a row.
Chinese copper prices were mixed for the day. The price of Chinese copper wire fell 1.4 percent to CNY 55,420 ($8,734) per metric ton. Chinese copper bar prices saw a 1.3 percent decline to CNY 56,300 ($8,873) per metric ton. The cash price of Chinese copper declined 1.3 percent to CNY 56,500 ($8,904) per metric ton. The price of Chinese bright copper scrap showed little movement on Thursday at CNY 47,200 ($7,438) per metric ton.
On the LME, the cash price of primary copper fell 1.9 percent to $7,540 per metric ton. The 3-month price of copper weakened by 1.7 percent on the LME, settling at $7,545 per metric ton.