Cash Price of Japanese Copper Lower

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Metal Prices, Premium

The day’s biggest mover was the cash price of Japanese copper which dropped by 1.9 percent on Monday, June 24 to close at JPY 685,000 ($6,962) per metric ton. After falling for two days, the price of US copper producer grade 110 rose 0.8 percent to $3.76 per pound. The price of US copper producer grade 122 is back up, rising by 0.8 percent on Monday to close at $3.76 per pound. Following a 0.8 percent rise yesterday, the price of US copper producer grade 102 closed at $3.95 per pound.

Chinese copper prices were mixed for the day. The price of Chinese bright copper scrap rose 1.6 percent on Monday, just off the 30-day low of CNY 41,130 ($6,699) per metric ton it hit on Thursday, June 20. The price of Chinese copper bar fell 1.2 percent to a 30-day low of CNY 50,500 ($8,225) per metric ton yesterday. After falling 1.2 percent to CNY 50,700 ($8,258) per metric ton, the cash price of Chinese copper reached a 30-day low. Yesterdayon Monday price drop of 0.8 percent carried the price of Chinese copper wire to a 30-day low of CNY 49,670 ($8,090) per metric ton.

The primary copper cash price reached a 30-day low on the LME after decreasing 0.5 percent to $6,775 per metric ton. Copper 3-month saw its price drop on the LME 0.4 percent to a 30-day low of $6,806 per metric ton on Monday.