Cash Price of Japanese Copper Lower

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.

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