Rising 3 percent made the US copper producer grade 122 price this week’s biggest mover on the weekly Copper MMI®.
The price of US copper producer grade 110 rose 3 percent as well last week, and the price of US copper producer grade 102 shifted up 2.9 percent.
The price of Korean copper strip did not change since the previous week. The cash price of primary Japanese copper experienced a flat week as well.
Chinese copper prices were mixed for the week. Closing out the third week of rising prices, the price of Chinese bright copper scrap increased by 2.2 percent. Prices for Chinese copper bar remained constant, and the Chinese copper cash price remained essentially flat. Chinese copper wire traded sideways last week as well.
The cash price of primary copper rose 2 percent on the LME over the past week to $8,215 per metric ton. This was the fifth week in a row of increasing prices. Closing out the fifth week of rising prices, the copper 3-month price gained 1.5 percent on the LME, finishing at $8,200 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.