Copper MMI®: Japanese Primary Price Down

The Japanese primary copper cash price fell 5.5 percent over the past week, settling at JPY 640,000 ($7,975) per metric ton. Korean copper strip remained essentially flat from the previous week at KRW 10,850 ($9) per kilogram.

Chinese copper prices were down for the week. The past week saw Chinese bright copper scrap close at CNY 48,550 ($7,675) per metric ton after a 3.9 percent decline. Chinese copper wire prices fell to CNY 56,030 ($8,858) per metric ton, down from CNY 57,850 ($9,167) a week ago. The price of Chinese copper bar declined 2.8 percent over the past week, settling at CNY 57,000 ($9,011) per metric ton. Since last week, the price of Chinese primary cash copper fell to CNY 57,200 ($9,043) per metric ton after moving 2.8 percent.

For the third week in a row, the price of primary cash copper dropped, falling 5.9 percent on the LME to $7,708 per metric ton. The primary copper 3-month price fell to $7,679 per metric ton on the LME, a 4.6 percent change from the prior 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.