Small Drift for Cash Price of Japanese Copper

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Metal Prices, Premium

The cash price of Japanese copper experienced the biggest price decline of the day, dropping 1.4 percent to close at JPY 759,000 ($7,508) per metric ton on Tuesday, May 28. The price of US copper producer grade 110 saw little movement on Tuesday, closing out around $3.96 per pound. The price of US copper producer grade 102 saw little price change yesterday at $4.15 per pound. The price of US copper producer grade 122 held steady around $3.96 per pound.

Chinese copper closed mixed yesterday. Chinese copper wire closed 0.5 percent lower at CNY 53,270 ($8,699) per metric ton. The price of Chinese bright copper scrap closed Tuesday at CNY 44,360 ($7,244) per metric ton, halting its two-day flat run with a 0.4 percent decline. Chinese copper bar held its value on Tuesday at CNY 54,450 ($8,892) per metric ton. The cash price of Chinese copper saw little movement yesterday at CNY 54,650 ($8,925) per metric ton.

The 3-month price of copper flattened at $7,275 per metric ton after two days of downward movement on the LME. The cash price of primary copper flattened at $7,239 following two-days of declines on the LME.