Copper MMI®: LME Cash Price Falls 2.7% for the Week

by on

The week’s biggest mover on the Copper MMI® was the primary copper cash price, which saw a 2.7 percent decline on the LME to $8,296 per metric ton. This comes on the heels of a 4.1 percent increase the week before. Following a 3.7 percent increase in the week prior, the 3-month price of primary copper fell two percent on the LME last week to $8,225 per metric ton.

Chinese copper prices were mixed for the week. The price of Chinese copper wire fell 1.2 percent after rising 1.5 percent the week before. The price of Chinese bright copper scrap increased by a slight 1.1 percent over the past week. Following a 1.6 percent increase in the week prior, the price of Chinese copper bar fell 0.4 percent last week. The Chinese primary copper cash price fell 0.4 percent on the SHFE to CNY 59,320 ($9,406) per metric ton after rising 1.6 percent the week before.

Following a 2.4 percent increase in the week prior, the price of US copper producer grade 122 fell 1.6 percent last week. The price of US copper producer grade 110 fell 1.6 percent after rising 2.4 percent the week before. Following a 2.3 percent increase in the week prior, the price of US copper producer grade 102 fell 1.6 percent last week. The Japanese primary copper cash price rose 0.4 percent over the past week. Following a steady week, prices for Korean copper strip closed flat, below $10 per kilogram.

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.

Comment (1)

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.