On June 1, 2012, the day’s biggest mover on global copper markets was the LME copper 3-month price, which saw a 0.6 percent decline to $7,498 per metric ton. Also on the LME, the primary copper cash price fell 0.3 percent to $7,516 per metric ton.
The prices of US copper producer grades 122, 110 and 102 all declined 0.5 percent on June 1.
However, Asian copper market prices held rather steady.
The cash price of primary Japanese copper was unchanged, holding above $8,000 per metric ton.
Chinese copper prices, meanwhile, were flat for the day. After a couple of days of decreasing prices, the price of Chinese copper wire held steady at around $8,700 per metric ton. Following two days of downward movement, the price of Chinese copper bar held steady in the mid-$8,800s per metric ton.
The cash price of Chinese copper flattened at below $8,900 per metric ton after two days of decreases. Chinese bright copper scrap saw little change in its price last Friday at above $7,400 per metric ton.