On Wednesday, May 1, US copper producer grade 110 price fell by 1.0 percent, landing at $3.85 per pound and making it the day’s biggest mover. The price of US copper producer grade 122 fell 1.0 percent to $3.85 per pound. The price of US copper producer grade 102 declined 1.0 percent to $4.04 per pound. The cash price of primary Japanese copper saw little change in its price yesterday at JPY 725,000 ($7,452) per metric ton.
Chinese copper prices were flat for the day. At CNY 53,600 ($8,691) per metric ton, the price of Chinese copper bar was essentially unchanged. The cash price of Chinese copper saw little movement yesterday, closing out around CNY 53,800 ($8,723) per metric ton. The price of Chinese copper wire remained steady at CNY 52,360 ($8,490) per metric ton. The price of Chinese bright copper scrap saw essentially no change for the fifth day in a row, remaining around CNY 42,030 ($6,815) per metric ton.
After improving for two days, the copper 3-month price declined 0.2 percent on the LME to $7,105 per metric ton. After a couple of days of improving prices on the LME, the cash price of primary copper held steady at $7,073.