Cash Price of Japanese Copper Up 1.1%

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The Japanese copper cash price closed up Monday, November 18 at JPY 734,000 ($7,313) per metric ton, halting two days of weakening prices with a 1.1 percent shift. At $3.87, the price of US copper producer grade 110 finished the market day up 0.3 percent per pound. The price of US copper producer grade 122 gained 0.3 percent to finish at $3.87 per pound. The price of US copper producer grade 102 rose 0.2 percent to $4.06 per pound.

Chinese copper prices closed flat for the day. The price of Chinese copper bar remained essentially flat at CNY 51,800 ($8,502) per metric ton. The Chinese copper cash price showed little movement on Monday, hovering around CNY 52,000 ($8,535) per metric ton. Following two days of downward movement, the price of Chinese copper wire held steady at CNY 50,725 ($8,325) per metric ton. Chinese bright copper scrap held its value yesterday at CNY 43,230 ($7,095) per metric ton.

The primary copper cash price is back up, rising by 0.4 percent on the LME on Monday to close at $6,967 per metric ton. Following a two-day drop, the copper 3-month price increased by 0.4 percent on the LME to $6,975 per metric ton.

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