Cash Price of Japanese Copper Lower

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Metal Prices, Premium

The cash price of Japanese copper saw a 1.1 percent drop on Monday, October 21, landing at JPY 740,000 ($7,556) per metric ton and making it the biggest mover of the day. The price of US copper producer grade 110 rose by 0.3 percent to $3.99 per pound. Following a couple of essentially changeless days, the price of US copper producer grade 122 rose by 0.3 percent, closing at $3.99 per pound. After two flat days, the price of US copper producer grade 102 inched up 0.2 percent yesterday to $4.18.

Chinese copper closed mixed on Monday. Closing out a three-day flat streak, the price of Chinese bright copper scrap moved up 0.8 percent to CNY 43,490 ($7,125) per metric ton. After two changeless days, the price of Chinese copper wire fell 0.4 percent to CNY 52,240 ($8,559) per metric ton. Chinese copper bar fell 0.4 percent in price to CNY 53,050 ($8,692) per metric ton. This marks the fifth day in a row of declining prices and the drop-off has accelerated since Tuesday, October 15. Declining prices continue for the Chinese copper cash price. It closed at CNY 53,250 ($8,724) per metric ton only after falling further, this time by.

On the LME, the primary copper cash price rose 1.0 percent to $7,241 per metric ton. Also on the LME, the copper 3-month price rose 0.9 percent to $7,269 per metric ton.

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