Japanese Copper Cash Price Experiences Large Decrease

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Metal Prices, Premium

On Wednesday, April 17, the day’s biggest mover was the Japanese copper cash price, which saw a 4.5 percent decline to JPY 723,000 ($7,406) per metric ton. The price of US copper producer grade 110 is back up, rising by 0.8 percent yesterday to close at $3.96 per pound. The price of US copper producer grade 122 rose 0.8 percent to $3.96 per pound after a two-day drop. Following a two-day drop, the price of US copper producer grade 102 increased by 0.7 percent to $4.15 per pound.

Chinese copper closed mixed yesterday. Following a 0.7 percent rise on Wednesday, the price of Chinese copper wire closed at CNY 53,300 ($8,618) per metric ton. After falling for two days, the price of Chinese copper bar rose 0.4 percent to CNY 54,250 ($8,772) per metric ton. The cash price of Chinese copper is back up, rising by 0.4 percent yesterday to close at CNY 54,450 ($8,804) per metric ton. At CNY 43,860 ($7,092) per metric ton, the price of Chinese bright copper scrap was essentially unchanged.

Just off of a thirty-day low of $7,219 per metric ton, the cash price of primary copper rose 1.4 percent on Wednesday on the LME. The copper 3-month price rose 1.3 percent yesterday on the LME, just off the thirty-day low of $7,250 per metric ton it hit on Monday, April 15.