The week’s biggest mover on the weekly Copper MMI®, the price of Chinese copper wire, jumped 5.6 percent. The price of Chinese bright copper scrap rose 5.6 percent as well, after falling 2 percent during the previous week.
Chinese copper bar prices climbed 5.4 percent, and the cash price of Chinese copper saw a 5.5 percent increase in its price.
Closing out the third week of rising prices, the price of US copper producer grades 110 and 122 increased by 4.1 percent. The price of US copper producer grade 102 finished the week 3.9 percent higher.
The price of Korean copper strip did not change since the previous week. Following a steady week, prices for the Japanese copper cash price closed flat, still above $8,200 per metric ton.
The 3-month price of copper rose 5.3 percent on the LME this week, closing out the third week at $8,075 per metric ton. Closing out the third week of rising prices, the cash price of primary copper increased by 4.9 percent on the LME, landing at $8,055 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.