Japanese Copper Cash Price Changes Directions

The cash price of Japanese copper closed up Thursday, June 6 at JPY 756,000 ($7,640) per metric ton, halting two days of weakening prices with a 2.4 percent shift. The price of US copper producer grade 110 flattened at $4.03 after two days of improvement. The price of US copper producer grade 102 steadied at $4.22 per pound following two-days of increases. Following a two-day rise, the price of US copper producer grade 122 flattened at $4.03.

Chinese copper prices were mixed for the day. The price of Chinese copper wire changed direction with a 0.3 percent drop. After two days of improving prices, the metal finished at CNY 53,920 ($8,798) per metric ton. Chinese copper bar stayed flat at around CNY 54,830 ($8,946) per metric ton. The cash price of Chinese copper saw little change in its price yesterday at CNY 55,030 ($8,979) per metric ton. At CNY 44,980 ($7,339) per metric ton, the price of Chinese bright copper scrap was essentially unchanged.

On the LME, the 3-month price of copper inched up 1.2 percent to $7,460 per metric ton. Also on the LME, the primary copper cash price rose 1.1 percent to $7,421 per metric ton.

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