The biggest movers on the weekly Copper MMI® were the prices of US copper producer grades 110 and 122, which saw a 1.8 percent decline. This comes on the heels of a 3 percent increase the week before.
Following a 2.9 percent increase in the week prior, the price of US copper producer grade 102 fell 1.7 percent last week.
Following a steady week, Korean copper strip prices and Japanese copper cash prices both kept quiet.
Chinese copper prices were mixed for the week. Chinese copper wire prices were off slightly down roughly $100 per metric ton from a week ago. Chinese copper bar fell 1.1 percent over the past week. The Chinese copper cash price fell 1.1 percent also, while Chinese bright copper scrap remained unchanged for the week.
The cash price of primary copper fell 0.5 percent on the LME to $8,172 per metric ton after rising 2 percent the week before. Following a 1.5 percent increase in the week prior, the copper 3-month price fell 0.3 percent on the LME last week to $8,173 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.