The week’s biggest movers on the weekly Copper MMI® were the prices of US copper producer grades 110 and 122, which saw a 3.4 percent decline. This comes on the heels of a three percent increases the week before. Following a 2.8 percent increase in the week prior, the price of US copper producer grade 102 fell 3.2 percent last week.
At just under $10 per kilogram, the week finished with no movement for Korean copper strip. Following a steady week, prices for primary Japanese copper closed flat below $8,200 per metric ton.
Chinese copper prices were down for the week. The price of Chinese copper wire fell 2.4 percent after rising 0.9 percent the week before. Following a 1.1 percent increase in the week prior, the price of Chinese copper bar fell 2.3 percent last week.
The Chinese copper cash price fell 2.3 percent after rising 1.1 percent the week before. Following a 0.7 percent increase in the week prior, the price of Chinese bright copper scrap fell 2.2 percent last week.
The cash price of primary copper fell 3.3 percent on the LME to $7,511 per metric ton after rising 3.5 percent the week before. Following a 3.7 percent increase in the week prior, the copper 3-month price fell 3.2 percent on the LME last week to $7,510 per metric ton.
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.