Latest Daily Copper Price Report
US copper producer prices for grades 102, 110 and 122 saw a 0.7 percent increase on Nov. 11, 2012, making them the biggest copper price movers for the day on MetalMiner’s price index.
For the fifth consecutive day, the cash price of primary Japanese copper held flat.
The price of Chinese copper wire finished the market day up 0.6 percent. The price of Chinese copper bar also increased 0.6 percent. The cash price of Chinese copper rose 0.6 percent also, while Chinese bright copper scrap held its value last Friday.
The cash price of primary copper saw a 0.7 percent decline on the LME to $7,605 per metric ton. Also on the LME, the copper 3-month price declined 0.6 percent to $7,608 per metric ton.
How Did Copper Prices Do Over the Week?
The biggest mover on MetalMiner’s weekly Copper MMI® was the copper cash price, which saw a 2.7 percent decline on the LME to $7,605 per metric ton. This week marked the third in a row of declining prices for the metal. Closing out the third week of declining prices, the 3-month LME price of copper dropped by 2.6 percent on the LME, finishing at $7,608 per metric ton.
The price of Chinese copper wire fell 1.3 percent over the past week, the third week in a row of declining prices. The price of Chinese copper bar finished the week down 1.2 percent. The cash price of Chinese copper dropped 1.2 percent this week, closing out the third consecutive week of falling prices. Meanwhile, the price of Chinese bright copper scrap rose 0.5 percent after falling 1.4 percent during the previous week.
For the third week in a row, the price of US copper producer grade 122 dropped, falling 1.9 percent. The price of US copper producer grade 110 also finished the week down 1.9 percent. For the third week in a row, the price of US copper producer grade 102 dropped, falling 1.8 percent.
Prices for Korean copper strip remained constant, while the cash price of primary Japanese copper remained steady from the previous week.
The Copper MMI® collects and weights 12 global copper metal price points to provide a unique view into copper price trends. For more information on the Copper MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.