The cash price of primary copper saw a 1.6 percent increase on July 27, 2012, reaching $7,511 per metric ton on the LME and making it the biggest mover for the day on our copper price index. Also on the LME, the copper 3-month price inched up 1.4 percent to $7,510 per metric ton.
The prices of US copper producer grades 102, 110 and 122 gained 0.5 percent on July 27. The Japanese copper cash price continues hovering south of $8,200 per metric ton for the fifth day in a row.
Chinese copper prices, on the other hand, closed mixed last Friday.
The price of Chinese copper bar closed with a 0.5 percent increase last week. Following a two-day drop, the cash price of Chinese copper increased by 0.5 percent as well.
After falling for two days, the price of Chinese copper wire rose 0.3 percent. The price of Chinese bright copper scrap remained essentially flat, holding its own under $7,500 per metric ton.