3-Month Price of Copper Keeps Rising

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Metal Prices, Premium

With a 3.5 percent increase over the past day, the 3-month price of copper was the biggest mover on the LME, closing at $7,019 per metric ton on Friday, July 12. The cash price of primary copper increased 3.2 percent on the LME , ending at $6,995 per metric ton. For the fifth day since Monday, July 8, the climb has accelerated.

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The price of US copper producer grade 122 rose 2.1 percent to $3.85 per pound. The price of US copper producer grade 110 rose 2.1 percent to $3.85 per pound. The price of US copper producer grade 102 inched up 2.0 percent to $4.04 per pound. The cash price of primary Japanese copper declined 1.2 percent to JPY 711,000 ($7,194) per metric ton.

Chinese copper closed mixed last Friday. Chinese copper wire prices rose 0.5 percent to CNY 51,030 ($8,315) per metric ton. Chinese copper bar gained 0.4 percent to finish at CNY 51,850 ($8,448) per metric ton. The Chinese copper cash price increased 0.4 percent to CNY 52,050 ($8,481) per metric ton. The price of Chinese bright copper scrap remained steady at CNY 43,210 ($7,040) per metric ton.