Japanese Copper Cash Price Turns Around After Two-Day Fall

The cash price of Japanese copper rose 1.7 percent on Friday, December 6, making it the day’s biggest mover. After two days of falling prices, it closed at JPY 760,000 ($7,470) per metric ton. The price of US copper producer grade 110 declined 0.3 percent to $3.96 per pound. The price of US copper producer grade 122 fell 0.3 percent to $3.96 per pound. The price of US copper producer grade 102 declined 0.2 percent to $4.15 per pound.

Chinese copper prices were mixed for the day. Chinese copper bar closed 0.2 percent lower at CNY 51,730 ($8,490) per metric ton. The cash price of Chinese copper saw a 0.2 percent decline to CNY 51,930 ($8,523) per metric ton. The price of Chinese copper wire held steady at CNY 50,975 ($8,366) per metric ton. Chinese bright copper scrap held its value last Friday at CNY 44,600 ($7,320) per metric ton.

At $7,085, the 3-month price of copper finished the market day on the LME up 1.6 percent per metric ton. After a 1.5 percent increase, the cash price of primary copper finished the day on the LME at $7,081 per metric ton.