On Tuesday, October 8, the day’s biggest mover was the cash price of Japanese copper, which saw a 1.0 percent increase to JPY 735,000 ($7,602) per metric ton. The price of US copper producer grade 110 fell 0.3 percent to $3.96 per pound. The price of US copper producer grade 122 saw a 0.3 percent decline to $3.96 per pound. The price of US copper producer grade 102 weakened by 0.2 percent, settling at $4.15 per pound.
Chinese copper prices were flat for the day. The price of Chinese copper bar saw little movement at CNY 53,650 ($8,766) per metric ton. For the fifth day in a row, the Chinese copper cash price remained essentially flat at CNY 53,850 ($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 ($8,602) per metric ton. The price of Chinese bright copper scrap continues hovering around CNY 42,830 ($6,998) per metric ton for the fifth day in a row.
On the LME, the 3-month price of copper inched up 0.3 percent to $7,204 per metric ton. After a 0.3 percent increase, the primary copper cash price finished the day on the LME at $7,171 per metric ton.