Cash Price of Japanese Copper Lower

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Metal Prices, Premium

The Japanese copper cash price experienced the biggest price decline of the day, dropping 1.4 percent to close at JPY 728,000 ($7,483) per metric ton on Monday, October 7. After a 0.8 percent increase, the price of US copper producer grade 110 finished the day at $3.97 per pound. The price of US copper producer grade 122 increased 0.8 percent to $3.97 per pound. The price of US copper producer grade 102 inched up 0.7 percent to $4.16 per pound.

Chinese copper prices were flat for the day. For the fifth day in a row, the price of Chinese copper bar remained essentially flat at CNY 53,600 ($8,765) per metric ton. The cash price of Chinese copper was unchanged at CNY 53,800 ($8,798) per metric ton. The price of Chinese copper wire saw essentially no change for the fifth day in a row, remaining around CNY 52,650 ($8,610) per metric ton. For the fifth consecutive day, the price of Chinese bright copper scrap held flat at CNY 42,830 ($7,004) per metric ton.

The primary copper cash price weakened by 0.9 percent on the LME, settling at $7,147 per metric ton. Also on the LME, the 3-month price of copper fell 0.9 percent to $7,180 per metric ton.

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