Cash Price of Japanese Copper Improves Slightly

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Metal Prices, Premium

On Wednesday, July 24, the Japanese copper cash price experienced the biggest change, rising 1.0 percent to JPY 730,000 ($7,336) per metric ton. The price of US copper producer grade 110 rose 0.3 percent to $3.86 per pound. After a 0.3 percent increase, the price of US copper producer grade 122 finished the day at $3.86 per pound. The price of US copper producer grade 102 inched up 0.2 percent to $4.05 per pound.

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Chinese copper prices were mixed for the day. After improving for two days, the price of Chinese copper wire declined 0.5 percent to CNY 51,150 ($8,336) per metric ton. The price of Chinese copper bar declined 0.4 percent to CNY 52,050 ($8,482) per metric ton, after two days of improvement. The cash price of Chinese copper changed direction with a 0.4 percent drop. After two days of improving prices, the metal finished at CNY 52,250 ($8,515) per metric ton. Chinese bright copper scrap held its value on Wednesday at CNY 44,400 ($7,236) per metric ton.

Following two days of rising prices, the cash price of primary copper dropped 0.3 percent on the LME to $6,960 per metric ton. Following a two-day rise on the LME, the copper 3-month price flattened at $6,990.