The monthly Copper MMI® registered a value of 100 in October, an increase of 6.4 percent from 94 in September.
The prices of US copper producer grade 110 and 122 climbed 8 percent, settling at $4.41 per pound. The price of US copper producer grade 102 closed the month at $4.60 per pound after gaining 7.7 percent. At CNY 51,050 ($8,121) per metric ton, Chinese bright copper #2 scrap finished the month up 7 percent. The price of Chinese copper wire jumped 6.8 percent last month to CNY 59,230 ($9,423) per metric ton. Last month, the Chinese copper cash price rose 6.9 percent to CNY 60,350 ($9,601) per metric ton.
The price of Korean copper strip ticked up only slightly over the past month at KRW 11,300 ($10.11) per kilogram. Last month was relatively consistent for the Japanese copper cash price, which increased 0.7 percent to JPY 640,000 ($8,208) per metric ton.
The Copper MMI® collects and weights 12 global copper metal price points to provide a unique view into copper price trends over a 30-day period. 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.