The week’s biggest mover on the Copper MMI® was the price of Chinese copper wire, which saw a 1.9 percent increase. This comes on the heels of a 1.8 percent decline the week prior.
The price of Chinese copper bar rose 1.5 percent after falling 1.6 percent during the previous week. The cash price of Chinese copper rose 1.5 percent after falling 1.6 percent the week before. Chinese bright copper scrap rose by a slight 0.6 percent.
The price of US copper producer grades 102, 110 and 122 fell 0.2 percent over the past week, the third week in a row of falling prices. Korean copper strip traded sideways last week, below $10 per kilogram. The Japanese copper cash price closed above $8,000 per metric ton after a flat week.
The cash price of primary copper fell 1.4 percent on the LME over the past week to $7,376 per metric ton. This was the third week in a row of declining prices. The 3-month price of copper fell 1.1 percent on the LME over the past week to $7,399 per metric ton. This was 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.