Japanese Copper Cash Price Falls 3.5%

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Metal Prices, Premium

With a decline of 3.5 percent to JPY 709,000 ($7,422) per metric ton on Thursday, June 13, the cash price of Japanese copper recorded the biggest decline of the day. The price of US copper producer grade 110 rose 0.8 percent to $3.89 per pound after a two-day drop. Following a 0.8 percent rise on Thursday, the price of US copper producer grade 122 closed at $3.89 per pound. The price of US copper producer grade 102 is back up, rising by 0.7 percent yesterday to close at $4.08 per pound.

Chinese copper prices were mixed for the day. After holding steady for the past few days, the price of Chinese copper bar fell 1.8 percent, closing at CNY 53,500 ($8,719) per metric ton. The Chinese copper cash price moved on Thursday. After a few changeless days, prices dropped 1.8 percent to CNY 53,700 ($8,752) per metric ton. Chinese copper wire stayed flat at around CNY 53,600 ($8,736) per metric ton. The price of Chinese bright copper scrap was unchanged at CNY 44,980 ($7,331) per metric ton.

After falling for two days, the primary copper cash price rose 0.7 percent on the LME to $7,086 per metric ton. Following a two-day drop, the 3-month price of copper increased by 0.7 percent on the LME to $7,120 per metric ton.