With a four percent increase on June 12, 2012, Chinese copper wire was the biggest mover on the Copper MMI®. Chinese copper bar ended the day after a 1.2 percent drop yesterday. The cash price of Chinese copper fell 1.2 percent as well. Chinese bright copper scrap prices rose one percent.
Meanwhile, US producer prices were up on June 12.
The price of US copper producer grade 122 finished the market day up 1.5 percent. The price of US copper producer grade 110 rose 1.5 percent as well, while the price of US copper producer grade 102 inched up 1.5 percent. The Japanese copper cash price saw little movement below $8,100 per metric ton.
After a two percent increase, the primary copper cash price finished the day on the LME at $7,395 per metric ton. Also on the LME, the 3-month price of copper rose 1.9 percent to $7,405 per metric ton.