The week’s biggest mover on the weekly Copper MMI® was the copper cash price, which saw a 3.8 percent increase on the LME to $7,667 per metric ton. This comes on the heels of a 1.5 percent decline the week prior. The 3-month price of copper rose 3.8 percent on the LME to $7,675 per metric ton after falling 1.5 percent during the previous week.
Chinese copper prices were up for the week. Chinese copper bar and primary copper cash prices both rose 1.5 percent after each fell 0.2 percent during the previous week. The price of Chinese copper wire rose 1.4 percent, also after falling 0.2 percent during the previous week. The price of Chinese bright copper scrap rose 0.2 percent, after falling 1.1 percent during the previous week.
The prices of US copper producer grades 110 and 122 rose 2.7 percent after falling 1.2 percent during the previous week, and the price of US copper producer grade 102 rose 2.6 percent. Prices for Korean copper strip remained constant, closing the week under $10 per kilogram. The cash price of primary Japanese copper closed in the mid-$8,100s 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.