Cash Price of Japanese Copper Sees Small Price Drop

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On Tuesday, December 24, the Japanese copper cash price fell by 0.8 percent, landing at JPY 787,000 ($7,554) per metric ton and making it the day’s biggest mover. The price of US copper producer grade 110 showed little movement on Tuesday, hovering around $4.04 per pound. The price of US copper producer grade 102 remained essentially flat at $4.23 per pound. The price of US copper producer grade 122 saw little movement on Tuesday at $4.04 per pound.

Chinese copper prices were mixed for the day. The price of Chinese copper wire gained 0.4 percent, closing at CNY 51,385 ($8,466) per metric ton. Weakening prices followed two days of improvement as the price of Chinese copper bar dropped 0.1 percent to CNY 52,240 ($8,607) per metric ton. Following two days of rising prices, the Chinese copper cash price dropped 0.1 percent to CNY 52,440 ($8,640) per metric ton. For the fifth consecutive day, the price of Chinese bright copper scrap held flat at CNY 44,600 ($7,348) per metric ton.

On the LME, the primary copper cash price declined 0.2 percent to $7,250 per metric ton. The copper 3-month price saw little movement on Tuesday on the LME, closing out around $7,238 per metric ton.

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