Daily Copper Price Roundup: US Copper Producer Prices Improve
On June 8, 2012, the day’s biggest mover on global copper markets was the US copper producer grade 110 price, which saw a two percent increase. The price of US copper producer grade 122 also rose two percent. The price of US copper producer grade 102 inched up 1.9 percent. The Japanese copper cash price was unchanged at above $8,000 per metric ton.
Chinese copper prices were up and down for the day, while Korean prices were up.
Chinese bright copper scrap prices rose 1.6 percent. Weakening prices followed two days of improvement as the price of Chinese copper wire dropped 0.8 percent. After improving for two days, the price of Chinese copper bar declined 0.4 percent. Following two days of rising prices, the Chinese copper cash price dropped 0.4 percent.
The primary copper cash price rose by 1.6 percent on the LME to $7,480 per metric ton. After a 1.6 percent increase, the LME copper 3-month price finished the day at $7,480 per metric ton.
Weekly Copper MMI®: Korean Copper Strip Rises 4.1 Percent For Week
The week’s biggest mover on the Copper MMI®, Korean copper strip jumped 4.1 percent. The prices of US copper producer grades 122, 102 and 110 dropped 0.5 percent this week, closing out the third consecutive week of falling prices. The cash price of primary Japanese copper remained steady from the previous week at above $8,000 per metric ton.
Chinese copper wire saw a 1.8 percent decline over the past week, and the price of Chinese copper bar fell 1.6 percent. This was the third week in a row of declining prices for copper bar. The Chinese copper cash price fell 1.6 percent over the past week. This was the third week in a row of declining cash prices. However, the price of Chinese bright copper scrap rose 0.6 percent, after falling 3.3 percent during the previous week.
The 3-month price of copper fell 0.9 percent on the LME over the past week to $7,480 per metric ton. This was the third week in a row of declining prices. The cash price of primary copper fell 0.8 percent on the LME over the past week to $7,480 per metric ton — also the third week in a row of declining prices.
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.