Cash Price of Japanese Copper Increases Significantly

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The Japanese copper cash price saw the biggest upwards shift for the day, rising 3.0 percent to close at JPY 752,000 ($7,552) per metric ton on Wednesday, September 4. The price of US copper producer grade 110 rose 1.8 percent to $3.96 per pound. The price of US copper producer grade 122 inched up 1.8 percent to $3.96 per pound. The price of US copper producer grade 102 rose 1.7 percent to $4.15 per pound.

Chinese copper prices were mixed for the day. Chinese copper bar prices saw a 0.4 percent decline to CNY 53,600 ($8,756) per metric ton. The cash price of Chinese copper fell 0.4 percent to CNY 53,800 ($8,789) per metric ton. The price of Chinese copper wire declined 0.3 percent to CNY 52,760 ($8,619) per metric ton, after two days of improvement. Following a two-day rise, the price of Chinese bright copper scrap flattened at CNY 44,100 ($7,204).

On the LME, the copper 3-month price gained 0.3 percent to finish at $7,215 per metric ton. Also on the LME, the primary copper cash price increased 0.1 percent to $7,183 per metric ton.