The cash price of primary copper saw a 2.9 percent increase on Friday, August 2, reaching $6,998 per metric ton on the LME and making it the biggest mover for the day. Also on the LME, the 3-month price of copper inched up 2.9 percent to $7,005 per metric ton.
After a 1.9 percent increase, the Japanese copper cash price finished the day higher. The prices of US copper producer grades102, 110 and 122 rose 1.3 percent.
Chinese copper closed mixed last Friday. The price of Chinese bright copper scrap fell 1.1 percent last Friday after two days of no change. After a 0.2 percent increase, Chinese copper wire finished the day up. Chinese copper bar prices rose 0.2 percent. The Chinese copper cash price finished the market day up 0.2 percent per metric ton.