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

by on
Style:
Category:
Members Only, Metal Prices, Premium

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 to CNY 57,780 ($9,162) per metric ton 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 to CNY 50,600 ($8,023) per metric ton. Following a 1.6 percent increase in the week prior, the price of Chinese copper bar fell 0.4 percent last week to CNY 59,120 ($9,375) per metric ton. 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 to $6 per pound. The price of US copper producer grade 110 fell 1.6 percent to $6.72 per pound 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 to $6.91 per pound. The Japanese primary copper cash price rose 0.4 percent over the past week to JPY 712,000 ($8,870) per metric ton. Following a steady week, prices for Korean copper strip closed flat at KRW 10,850 ($9) 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.

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Your email address will not be published.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.