The day’s biggest mover was Chinese bright copper scrap, dropping 2.5 percent to settle at CNY 42,810 ($7,029) per metric ton on Wednesday, October 30. The price of Chinese copper wire dropped by 0.6 percent to CNY 51,475 ($8,452) per metric ton after holding steady. Chinese copper bar stayed flat at around CNY 52,450 ($8,612) per metric ton. The cash price of Chinese copper held steady around CNY 52,650 ($8,645) per metric ton.
The price of US copper producer grade 122 held steady around $3.96 per pound. The cash price of primary Japanese copper showed little movement yesterday, hovering around JPY 733,000 ($7,464) per metric ton. The price of US copper producer grade 102 held steady around $4.15 per pound. The price of US copper producer grade 110 saw little change in its price on Wednesday at $3.96 per pound.
After rising 0.8 percent, prices settled at $7,215 per metric ton, driving an accelerated rise since Thursday, October 24. Today marks the fifth day in a row of improvement for the cash price of primary copperon the LME. The copper 3-month price increased 0.7 percent on the LME , ending at $7,222 per metric ton. For the fifth day since Thursday, October 24, the climb has accelerated.