Cash Price of Primary Copper Shifts Up 1.1%

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Metal Prices, Premium

At $7,175 per metric ton, the copper cash price moved up 1.1 percent on Tuesday, September 3, making it the day’s biggest mover on the LME. At $7,195, the 3-month price of copper finished the market day on the LME up 1.0 percent per metric ton.

The cash price of primary Japanese copper weakened by 0.5 percent, settling at JPY 730,000 ($7,331) per metric ton. After dropping for two days, the price of US copper producer grade 122 flattened at $3.89. The price of US copper producer grade 102 flattened at $4.08 following two-days of declines. The price of US copper producer grade 110 flattened at $3.89 per pound after two days of downward movement.

Chinese copper closed mixed on Tuesday. Chinese bright copper scrap prices inched up 0.6 percent to CNY 44,100 ($7,206) per metric ton. Chinese copper wire finished the day up 0.2 percent to CNY 52,930 ($8,649) per metric ton. Chinese copper bar saw little change in its price on Tuesday at CNY 53,800 ($8,792) per metric ton. The Chinese copper cash price remained essentially flat at CNY 54,000 ($8,824) per metric ton.