The price of US copper producer grade 110 saw a 5.6 percent increase on Monday, May 6, reaching $3.98 per pound and making it the biggest mover for the day. Monday closed the price of US copper producer grade 122 at $3.98 per pound, after moving up 5.6 percent. On Monday, the price of US copper producer grade 102 experienced a large decrease, rising 5.3 percent to land at $4.17 per pound. The cash price of primary Japanese copper saw little movement on Monday at JPY 710,000 ($7,163) per metric ton.
Chinese copper closed mixed on Monday. Chinese copper wire rose 4.4 percent to CNY 53,110 ($8,631) per metric ton. Chinese copper bar gained 2.9 percent to finish at CNY 54,040 ($8,782) per metric ton. The cash price of Chinese copper inched up 2.9 percent to CNY 54,240 ($8,815) per metric ton. The price of Chinese bright copper scrap continues hovering around CNY 42,030 ($6,830) per metric ton for the fifth day in a row.
On the LME, the cash price of primary copper price jumped 3.7 percent to $7,121 per metric ton. Following a two-day drop, the copper 3-month price increased by 3.6 percent on the LME to $7,150 per metric ton.