Cash Price of Primary Copper Up Again
Following a two-day decline on the LME, the cash price of primary copper climbed up 1.0 percent to end at $7,170 per metric ton on Monday, September 9. The copper 3-month price is back up, rising by 0.9 percent on the LME on Monday to close at $7,198 per metric ton.
At $3.92, the price of US copper producer grade 122 finished the market day up 0.3 percent per pound. After a 0.3 percent increase, the price of US copper producer grade 110 finished the day at $3.92 per pound. The price of US copper producer grade 102 rose 0.2 percent to $4.11 per pound. The cash price of primary Japanese copper held steady on Monday, remaining around JPY 740,000 ($7,400) per metric ton.
Chinese copper prices were mixed for the day. After falling for two days, the price of Chinese copper wire rose 0.8 percent to CNY 52,765 ($8,616) per metric ton. At CNY 53,650 ($8,760), the price of Chinese copper bar finished the market day up 0.8 percent per metric ton. The cash price of Chinese copper gained 0.8 percent to finish at CNY 53,850 ($8,793) per metric ton. After a couple of days of improving prices, the price of Chinese bright copper scrap held steady at CNY 52,550 ($8,580).