The cash price of Japanese copper saw the biggest increase at 8.8 percent, finishing at JPY 745,000 ($7,541) per metric ton for Wednesday, May 8. The price of US copper producer grade 110 saw little movement on Wednesday at $3.97 per pound. The price of US copper producer grade 102 saw little price change on Wednesday at $4.16 per pound. The price of US copper producer grade 122 showed little movement on Wednesday, hovering around $3.97 per pound.
Chinese copper prices were mixed for the day. Following two days of rising prices, the price of Chinese copper bar dropped 0.4 percent to CNY 54,250 ($8,812) per metric ton. After improving for two days, the cash price of Chinese copper declined 0.4 percent to CNY 54,450 ($8,845) per metric ton. The price of Chinese copper wire closed at CNY 53,360 ($8,668) per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.3 percent. Chinese bright copper scrap saw little change in its price yesterday at CNY 44,080 ($7,160) per metric ton.
On the LME, the copper 3-month price rose 1.7 percent to $7,270 per metric ton. Also on the LME, the cash price of primary copper gained 1.7 percent to finish at $7,240 per metric ton.