The cash price of primary copper rose 0.6 percent on Monday, December 2, making it the day’s biggest mover. After two days of falling prices on the LME, it closed at $7,026 per metric ton. Also on the LME, the 3-month price of copper rose 0.5 percent to $7,029 per metric ton.
At JPY 752,000 ($7,337), 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 showed little movement yesterday, hovering around $3.90 per pound. The price of US copper producer grade 102 saw little change in its price yesterday at $4.09 per pound. The price of US copper producer grade 110 held steady yesterday, remaining around $3.90 per pound.
Chinese copper prices were mixed for the day. The price of Chinese copper wire increased 0.4 percent to CNY 50,910 ($8,354) per metric ton. Chinese copper bar saw its price rise 0.1 percent to CNY 51,780 ($8,496) per metric ton. After a 0.1 percent increase, the cash price of Chinese copper finished the day at CNY 51,980 ($8,529) per metric ton. The price of Chinese bright copper scrap remained essentially flat at CNY 43,600 ($7,154) per metric ton.