The week’s biggest mover on the weekly Copper MMI® was the copper 3-month price, which saw a 1.5 percent decline on the LME to $7,395 per metric ton. This comes on the heels of a 1.5 percent increase the week before.
The primary copper cash price fell 1.5 percent on the LME to $7,385 per metric ton after rising 1.5 percent the week before.
Chinese copper prices were down for the week.
Following a 0.2 percent increase in the week prior, the price of Chinese bright copper scrap fell 1.1 percent last week. The price of Chinese copper bar fell 0.2 percent after rising 1.7 percent the week before. Following a 1.7 percent increase in the week prior, the Chinese copper cash price fell 0.2 percent, and so did the price of Chinese copper wire, after rising 1.9 percent the week before.
Following a 3.6 percent increase in the week prior, the prices of US copper producer grades 110 and 122 fell 1.2 percent last week. After a 3.4 percent increase in the week prior, the price of US copper producer grade 102 fell 1.2 percent last week.
Korean copper strip and Japanese primary cash copper prices both had 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.