After Two-Day Rise, Cash Price of Japanese Copper Falls

The Japanese copper cash price fell 1.0 percent on Wednesday, November 20 to JPY 728,000 ($7,267) per metric ton, making it the day’s biggest mover. The price of US copper producer grade 110 inched up 0.3 percent to $3.86 per pound. The price of US copper producer grade 122 increased 0.3 percent to $3.86 per pound. After a 0.2 percent increase, the price of US copper producer grade 102 finished the day at $4.05 per pound.

Chinese copper prices were mixed for the day. Chinese copper bar prices rose 0.9 percent to CNY 51,620 ($8,471) per metric ton. The Chinese copper cash price gained 0.9 percent to finish at CNY 51,820 ($8,504) per metric ton. Chinese copper wire saw its price rise 0.4 percent to CNY 50,780 ($8,333) per metric ton. Chinese bright copper scrap stayed flat at around CNY 43,230 ($7,094) per metric ton.

Following two days of rising prices, the primary copper cash price dropped 0.8 percent on the LME to $6,946 per metric ton. The 3-month price of copper declined 0.6 percent on the LME to $6,956 per metric ton, after two days of improvement.