Small Drift for Cash Price of Japanese Copper

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Metal Prices, Premium

The day’s biggest mover was the Japanese copper cash price which dropped by 1.4 percent on Friday, October 11 to close at JPY 723,000 ($7,362) per metric ton. The price of US copper producer grade 110 gained 0.5 percent to finish at $3.92 per pound. The price of US copper producer grade 122 rose 0.5 percent to $3.92 per pound. The price of US copper producer grade 102 inched up 0.5 percent to $4.11 per pound.

Chinese copper closed mixed last Friday. Following a 0.6 percent rise last Friday, the price of Chinese copper bar closed at CNY 53,150 ($8,692) per metric ton. The Chinese copper cash price is back up, rising by 0.6 percent last Friday to close at CNY 53,350 ($8,724) per metric ton. At CNY 52,290 ($8,551), the price of Chinese copper wire finished the market day up 0.5 percent per metric ton. At CNY 43,140 ($7,055) per metric ton, the price of Chinese bright copper scrap was essentially unchanged.

On the LME, the copper 3-month price held steady around $7,178 per metric ton. Also on the LME, the cash price of primary copper showed little movement last Friday, hovering around $7,140 per metric ton.

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