3-Month Price of Copper Rises 1.8%

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Metal Prices, Premium

On Wednesday, May 22, the 3-month price of copper experienced the biggest change, rising 1.8 percent on the LME to $7,408 per metric ton. Also on the LME, the cash price of primary copper increased 1.2 percent to $7,383 per metric ton.

The price of US copper producer grade 122 closed at $4.00 per pound. Following a couple days of improvement, prices fell by 0.5 percent. After improving for two days, the price of US copper producer grade 110 declined 0.5 percent to $4.00 per pound. Following a couple days of improvement, the price of US copper producer grade 102 weakened by 0.5 percent. Prices closed at $4.19 per pound. Following a two-day rise, the Japanese copper cash price flattened at JPY 774,000 ($7,555).

Chinese copper closed mixed yesterday. Weakening prices followed two days of improvement as the price of Chinese copper wire dropped 0.1 percent to CNY 54,160 ($8,824) per metric ton. The price of Chinese copper bar changed direction with a 0.1 percent drop. After two days of improving prices, the metal finished at CNY 55,080 ($8,974) per metric ton. The Chinese copper cash price declined 0.1 percent to CNY 55,280 ($9,007) per metric ton, after two days of improvement. For the fifth day in a row, the price of Chinese bright copper scrap remained essentially flat at CNY 44,340 ($7,224) per metric ton.