At JPY 776,000 ($7,633) per metric ton, the Japanese copper cash price moved up 2.4 percent on Tuesday, May 14, making it the day’s biggest mover. The price of US copper producer grade 110 increased 0.5 percent to $4.03 per pound. The price of US copper producer grade 122 inched up 0.5 percent to $4.03 per pound. The price of US copper producer grade 102 rose 0.5 percent to $4.22 per pound.
Chinese copper closed mixed yesterday. The price of Chinese bright copper scrap declined 1.1 percent to CNY 44,430 ($7,229) per metric ton. Chinese copper bar finished the day up 0.8 percent to CNY 55,000 ($8,949) per metric ton. After a 0.8 percent increase, the Chinese copper cash price finished the day at CNY 55,200 ($8,981) per metric ton. Chinese copper wire prices inched up 0.3 percent to CNY 53,990 ($8,784) per metric ton.
On the LME, the 3-month price of copper rose 0.6 percent to $7,378 per metric ton. Also on the LME, the cash price of primary copper inched up 0.5 percent to $7,350 per metric ton.