The week’s biggest mover on MetalMiner’s weekly Copper MMI® was the copper 3-month price, which saw a 4.8 percent increase on the LME to $7,766 per metric ton. This comes on the heels of a 0.3 percent decline the week prior.
The primary copper cash price increased 4.6 percent over the past week to $7,760 per metric ton on the LME.
Chinese and US copper producer prices, meanwhile, were up for the week.
The price of Chinese copper wire rose 2.3 percent, after falling one percent during the previous week. Chinese bright copper scrap saw its price rise 2.1 percent over the past week, while Chinese copper bar prices rose 1.8 percent after falling 0.5 percent during the previous week.
The cash price of Chinese copper rose 1.8 percent after falling 0.5 percent during the previous week.
The price of US copper producer grades 122 and 110 increased 3.5 percent this week, closing out the fourth consecutive week of rising prices. Also finishing the fourth week of rising prices, the price of US copper producer grade 102 increased by 3.4 percent.
Korean copper strip traded sideways last week, while the cash price of primary Japanese copper closed above $8,000 per metric ton after a flat 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.