Ahh, Reuters’ Andy Home…always good for a laugh – and some great commentary.
Home notes in his recent report that Japan’s Pan Pacific Copper, a producer of 700,000 tons or so of refined copper, matters when it comes to watching copper market prices. “Pan Pacific’s views are that both raw material conversion terms and refined metal premiums should rise next year. And substantially so.” Get his full analysis here.
But If You Want Current Prices…
The price of US copper producer grade 110 saw a 0.5 percent increase on Tuesday, September 10, making it the biggest mover for the day. The price of US copper producer grade 122 increased 0.5 percent. The price of US copper producer grade 102 inched up 0.5 percent as well. The Japanese copper cash price finished the market day up 0.4 percent.
Chinese copper closed mixed on Tuesday. The price of Chinese copper bar changed direction with a 0.4 percent drop. Following two days of rising prices, the cash price of Chinese copper dropped 0.4 percent also. Chinese copper wire ended the day after a 0.3 percent drop yesterday. The price of Chinese bright copper scrap was essentially unchanged.
On the LME, the 3-month price of copper rose 0.4 percent to $7,224 per metric ton. Also on the LME, the primary copper cash price gained 0.3 percent to finish at $7,191 per metric ton.