Copper Cash Price Up Again

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The copper cash price rose 0.6 percent on Feb. 26, 2013, making it the day’s biggest mover. After two days of falling prices on the LME, it closed at $7,865 per metric ton. After falling for two days, the copper 3-month price rose 0.5 percent on the LME to $7,885 per metric ton.

Following a 0.5 percent rise yesterday, the price of US copper producer grade 122 closed at $4.18 per pound. Following a two-day drop, the price of US copper producer grade 110 increased by 0.5 percent to $4.18 per pound. The price of US copper producer grade 102 is back up, rising by 0.5 percent on Tuesday to close at $4.37 per pound. The cash price of primary Japanese copper continues hovering around JPY 640,000 ($6,928) per metric ton for the fifth day in a row.

Chinese copper prices were flat for the day. Chinese copper wire stayed flat at around CNY 56,960 ($9,137) per metric ton. The price of Chinese copper bar remained essentially flat at CNY 57,870 ($9,283) per metric ton. The cash price of Chinese copper saw little change in its price yesterday at CNY 58,070 ($9,315) per metric ton. The price of Chinese bright copper scrap remained steady at CNY 47,430 ($7,608) per metric ton.