Weakening prices changed direction when the 3-month price of copper rose 2.5 percent on July 16, 2012 on the LME to $7,674 per metric ton. The primary copper cash price is back up, rising by 2.4 percent on the LME on Monday to close at $7,688 per metric ton.
The price of US copper producer grade 122 finished the market day up 2.2 percent. The price of US copper producer grade 110 rose 2.2 percent as well, while grade 102 prices rose 2.1 percent.
The cash price of primary Japanese copper remained essentially flat, holding below $8,100 per metric ton.
Chinese copper closed mixed on Monday. Chinese copper bar saw its price rise 0.7 percent. The cash price of Chinese copper finished the day also with a 0.7 percent increase. Chinese copper wire finished the day up 0.6 percent, while Chinese bright copper scrap held its value on Monday at below $7,600 per metric ton.