The cash price of Japanese copper saw a 1.8 percent drop on Thursday, May 16, landing at JPY 763,000 ($7,462) per metric ton and making it the biggest mover of the day. The price of US copper producer grade 110 fell 0.8 percent to $3.93 per pound. The price of US copper producer grade 122 saw a 0.8 percent decline to $3.93 per pound. The price of US copper producer grade 102 declined 0.7 percent to $4.12 per pound.
Chinese copper prices were mixed for the day. At CNY 52,810 ($8,591) per metric ton, Chinese copper wire fell 1.0 percent yesterday. Chinese copper bar prices saw a 0.5 percent decline to CNY 53,900 ($8,768) per metric ton. The cash price of Chinese copper weakened by 0.5 percent, settling at CNY 54,100 ($8,801) per metric ton. The price of Chinese bright copper scrap held steady at CNY 44,340 ($7,213) per metric ton.
On the LME, the cash price of primary copper declined 1.4 percent to $7,095 per metric ton. Also on the LME, the 3-month price of copper fell 1.2 percent to $7,140 per metric ton.