Thursday, April 21, 2011

Copper keeps going up


Copper on the Changjiang Nonferrous Metals Trading Market, a major spot metals market in Shanghai, traded Thursday at an average price of 71,825 yuan ($11,018) per ton, up 425 yuan ($65.19) from the previous day.

I think they mean metric ton, which is 2,204.62 lbs or 1,000 kilograms. If that is correct, then the price is right at $5.00/lb.

The Comex price is $4.34 (see

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