The cash price of Japanese copper saw a 1.8 percent increase on Wednesday, October 16, reaching JPY 746,000 ($7,570) per metric ton and making it the biggest mover for the day. The price of US copper producer grade 110 inched up 0.3 percent to $3.98 per pound. The price of US copper producer grade 122 gained 0.3 percent to finish at $3.98 per pound. After a 0.2 percent increase, the price of US copper producer grade 102 finished the day at $4.17 per pound.
Chinese copper prices were mixed for the day. The price of Chinese copper wire moved up 0.4 percent, landing at CNY 52,460 ($8,596) per metric ton. At CNY 53,450 ($8,759), the price of Chinese copper bar finished the market day up 0.2 percent per metric ton. At CNY 53,650 ($8,791), the cash price of Chinese copper finished the market day up 0.2 percent per metric ton. The price of Chinese bright copper scrap remained steady at CNY 43,140 ($7,069) per metric ton.
The cash price of primary copper weakened by 0.3 percent on the LME, settling at $7,186 per metric ton. The copper 3-month price saw a 0.1 percent decline on the LME to $7,215 per metric ton.