Cash Price of Japanese Copper Sees Small Decrease

The cash price of Japanese copper saw the biggest decline of the day, dropping 0.5 percent to close at JPY 749,000 ($7,328) per metric ton on Thursday, November 28. The price of US copper producer grade 110 prices declined 0.5 percent , settling at $3.90 per pound. For the fifth day since Friday, November 22, the drop-off has accelerated. After falling 0.5 percent, prices settled at $3.90 per pound, driving an accelerated drop-off since Friday, November 22. Today marks the fifth day in a row of declining prices for the price of US copper producer grade 122. The price of US copper producer grade 102 continues its trend downwards. Finishing the day at $4.09 per pound, it dropped 0.5 percent.

Chinese copper prices were mixed for the day. Chinese copper wire closed 0.1 percent lower at CNY 50,775 ($8,334) per metric ton. Chinese copper bar prices saw a 0.1 percent decline to CNY 51,620 ($8,473) per metric ton. The Chinese copper cash price saw a 0.1 percent decline to CNY 51,820 ($8,506) per metric ton. The price of Chinese bright copper scrap saw essentially no change for the fifth day in a row, remaining around CNY 43,230 ($7,096) per metric ton.

The primary copper cash price closed Wednesday at $7,051 per metric ton, halting its two-day flat run on the LME with a 0.2 percent decline. The 3-month price of copper saw little movement yesterday on the LME, closing out around $7,068 per metric ton.

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