Cash Price of Primary Copper Increases Significantly

Rising 3.3 percent to close at $7,329 per metric ton, the copper cash price experienced the biggest change on the LME for Monday, May 20. Following a two-day drop, the copper 3-month price increased by 3.2 percent on the LME to $7,350 per metric ton.

Following a 1.2 percent rise on Monday, the cash price of primary Japanese copper closed at JPY 768,000 ($7,478) per metric ton. The price of US copper producer grade 122 gained 0.8 percent to finish at $3.99 per pound. The price of US copper producer grade 110 rose 0.8 percent to $3.99 per pound. After a 0.7 percent increase, the price of US copper producer grade 102 finished the day at $4.18 per pound.

Chinese copper prices were mixed for the day. At CNY 54,700 ($8,906), the price of Chinese copper bar finished the market day up 0.8 percent per metric ton. The Chinese copper cash price inched up 0.8 percent to CNY 54,900 ($8,939) per metric ton. Chinese copper wire gained 0.5 percent to finish at CNY 53,590 ($8,726) per metric ton. The price of Chinese bright copper scrap showed little movement on Monday at CNY 44,340 ($7,220) per metric ton.

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