Cash Price of Japanese Copper Shifts Up 2.0%

The cash price of Japanese copper saw the biggest upwards shift for the day, rising 2.0 percent to close at JPY 758,000 ($7,522) per metric ton on Friday, May 10. The price of US copper producer grade 110 weakened by 0.7 percent, settling at $4.01 per pound. The price of US copper producer grade 122 fell 0.7 percent to $4.01 per pound. The price of US copper producer grade 102 declined 0.7 percent to $4.20 per pound.

Chinese copper prices were mixed for the day. After a 0.3 percent increase, Chinese copper wire finished the day at CNY 53,810 ($8,777) per metric ton. Chinese copper bar gained 0.2 percent to finish at CNY 54,570 ($8,901) per metric ton. At CNY 54,770 ($8,934), the Chinese copper cash price finished the market day up 0.2 percent per metric ton. The price of Chinese bright copper scrap showed little movement last Friday at CNY 44,910 ($7,326) per metric ton.

Following a couple days of improvement, the copper 3-month price weakened by 0.3 percent on the LME. Prices closed at $7,335 per metric ton. The cash price of primary copper closed at $7,310 per metric ton. Following a couple days of improvement, prices fell by 0.2 percent on the LME.