Price of US Copper Producer Grade 122 Price Improves
The day’s biggest mover broke away from a static phase with a 1.5 percent jump on Thursday, October 31. After three changeless days, US copper producer grade 110 price closed at $4.02 per pound. The price of US copper producer grade 122 rose by 1.5 percent to $4.02 per pound after a three-day flat streak. After a 1.4 percent increase, the price of US copper producer grade 102 finished the day at $4.21 per pound. The Japanese copper cash price gained 1.1 percent to finish at JPY 741,000 ($7,522) per metric ton.
Chinese copper prices were mixed for the day. Chinese copper wire gained 0.9 percent to finish at CNY 51,920 ($8,520) per metric ton. The price of Chinese copper bar increased 0.8 percent to CNY 52,860 ($8,675) per metric ton. At CNY 53,060 ($8,707), the Chinese copper cash price finished the market day up 0.8 percent per metric ton. Chinese bright copper scrap held its value on Thursday at CNY 42,810 ($7,025) per metric ton.
After rising 0.8 percent, prices settled at $7,275 per metric ton, driving an accelerated rise since Friday, October 25. Today marks the fifth day in a row of improvement for the primary copper cash priceon the LME. Today marks the fifth day in a row of increases for the 3-month price of copper. After climbing 0.8 percent on the LME, prices settled at $7,277 per metric ton, driving an accelerated improvement since Friday, October 25.