Copper MMI®: Chinese Bright Copper Scrap Price Falls 2% for the Week

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The week’s biggest mover on the weekly Copper MMI® was the price of Chinese bright copper scrap, which saw a 2 percent decline. This comes on the heels of a 3.1 percent increase the week before.

The price of Chinese copper bar rose 1.5 percent, after falling 0.4 percent during the previous week. The Chinese copper cash price also rose 1.5 percent after falling 0.4 percent the week before. The price of Chinese copper wire rose 1.3 percent after falling 0.2 percent during the previous week.

The prices of US copper producer grades 110 and 122 rose 2 percent after falling 1.2 percent during the previous week. The price of US copper producer grade 102 rose 1.9 percent after also falling 1.2 percent during the previous week. Korean copper strip remained essentially flat from the previous week, and the cash price of primary Japanese copper traded sideways.

The copper 3-month price rose 0.8 percent on the LME to $7,670 per metric ton after falling 0.8 percent during the previous week. The primary copper cash price rose 0.7 percent on the LME to $7,680 per metric ton after falling 0.6 percent during the previous 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.

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