Cash Price of Primary Copper Improves 0.5%

On Thursday, November 21, the cash price of primary copper experienced the biggest change, rising 0.5 percent on the LME to $6,980 per metric ton. Also on the LME, the 3-month price of copper rose 0.4 percent to $6,984 per metric ton.

At JPY 730,000 ($7,284), the cash price of primary Japanese copper finished the market day up 0.3 percent per metric ton. The price of US copper producer grade 122 held steady around $3.86 per pound. The price of US copper producer grade 102 saw little movement yesterday at $4.05 per pound. The price of US copper producer grade 110 remained essentially flat at $3.86 per pound.

Chinese copper closed mixed yesterday. Chinese copper bar prices saw a 0.5 percent decline to CNY 51,380 ($8,433) per metric ton. The Chinese copper cash price weakened by 0.5 percent, settling at CNY 51,580 ($8,466) per metric ton. The price of Chinese copper wire remained essentially flat at CNY 50,780 ($8,335) per metric ton. The price of Chinese bright copper scrap continues hovering around CNY 43,230 ($7,095) per metric ton for the fifth day in a row.