The week’s biggest mover on the weekly Copper MMI® was the 3-month price of copper, which saw a 1.4 percent decline on the LME to $8,212 per metric ton. This comes on the heels of a 1.9 percent increase the week before.
The cash price of primary copper fell 1.4 percent on the LME to $8,210 per metric ton after rising 1.9 percent the week before.
Chinese copper prices were flat for the week. The prices of Chinese copper bar, copper wire, bright copper scrap and copper cash prices all did not move.
Following a 1.1 percent increase in the week prior, the price of US copper producer grade 122 fell 0.9 percent last week. Copper producer grade 110 also fell 0.9 percent after rising 1.1 percent the week before, as did grade 102.
Following a steady week, prices for Korean copper strip closed flat. The Japanese copper cash price closed with no movement as well.
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.