Japanese Copper Improves 1.3%, Traders Mull Chinese Data

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Brighter Chinese trade data failed to boost copper prices today, as the absence of European participants due to the Easter Monday holiday kept trading subdued. The Japanese copper cash price saw the biggest increase at 1.3 percent, finishing at JPY 705,000 ($6,881) per metric ton for Friday, April 18. The price of US copper producer grade 110 saw little movement yesterday, closing out around $3.73 per pound. The price of US copper producer grade 102 held steady around $3.92 per pound. The price of US copper producer grade 122 saw little change in its price yesterday at $3.73 per pound.

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Chinese copper closed mixed on Thursday. Chinese copper bar prices rose 0.1 percent to CNY 48,780 ($7,843) per metric ton. After a 0.1 percent increase, the cash price of Chinese copper finished the day at CNY 48,980 ($7,875) per metric ton. Chinese copper wire saw little change in its price yesterday at CNY 47,580 ($7,650) per metric ton. The price of Chinese bright copper scrap saw essentially no change for the fifth day in a row, remaining around CNY 44,300 ($7,122) per metric ton.

Following a 0.5 percent rise yesterday, the primary copper cash price closed on the LME at $6,631 per metric ton. Also on the LME, the 3-month price of copper increased 0.4 percent to $6,632 per metric ton.

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