Following a 0.5 percent decline, Chinese copper bar finished as the week’s biggest mover on the weekly Copper MMI®.
The cash price of Chinese copper saw a 0.5 percent drop this week as well. The price of Chinese copper wire declined 0.4 percent, as did Chinese bright copper scrap which saw a 0.4 percent decline.
US copper producer prices all closed last week after a 0.2 percent drop. Prices for Korean copper strip remained constant, and the Japanese copper cash price closed flat.
Closing at $8,215 per metric ton, the 3-month price of copper closed with no net change on the LME for the week. Also on the LME, the primary copper cash price closed at $8,209 per metric ton after an overall flat week.
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.