The price of US copper producer grade 122 finished as the week’s biggest mover on MetalMiner’s weekly Copper MMI® after dropping 2.5 percent. The US copper producer grade 110 price finished the week following a 2.5 percent drop as well. The price of US copper producer grade 102 fared slightly better, after losing 2.4 percent.
The week finished with no movement for Korean copper strip. Closing below $8,200 per metric ton again, the cash price of primary Japanese copper remained unchanged for the week.
Chinese copper prices, meanwhile, were down.
The price of Chinese bright copper scrap declined 1.1 percent over the past week. Chinese copper bar prices were off slightly, down nearly $50 per ton from a week ago. Since last week, the price of the Chinese copper cash price fell 0.8 percent. Chinese copper wire fell 0.7 percent over the past week.
With a 1.7 percent decrease on the LME, the cash price of primary copper closed the week at $7,386 per metric ton. The 3-month price of copper fell 1.5 percent on the LME for the week to settle at $7,394 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.