Daily Copper Roundup: Chinese Copper Wire Price Increases

On June 5, 2012, Chinese copper wire rose 0.6 percent to finish as the day’s biggest mover on global copper markets. Chinese copper bar prices, meanwhile, inched up 0.5 percent. The cash price of Chinese copper gained 0.5 percent, while Chinese bright copper scrap held its value on Tuesday at above $7,300 per metric ton.

How did producer and exchange prices fare?

The price of US copper producer grade 122 flattened after two days of downward movement. The price of US copper producer grade 102 steadied as well, after two days of dropping prices. US copper producer grade 110 also followed suit.

The cash price of primary Japanese copper was unchanged at below $8,200 per metric ton.

Following two days of downward movement, the primary copper cash price held steady at $7,365 per metric ton on the LME. After dropping for two days on the LME, the 3-month price of copper flattened at $7,363.

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