Daily Copper Price Movement
Chinese copper wire moved up 0.3 percent on Nov. 2, 2012, the day’s biggest change on our copper price index. Chinese copper bar and the cash price of Chinese copper gained 0.1 percent. The price of Chinese bright copper scrap held steady.
Both US copper producer prices and the Japanese primary copper cash price didn’t move.
The copper 3-month price closed at $7,810 per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.2 percent on the LME. After a couple of days of improving prices on the LME, the primary copper cash price held steady at $7,815.
Weekly Copper Price Movement
The week’s biggest mover on the copper price index was the price of Chinese bright copper scrap, which saw a 1.4 percent decline. This week marked the third in a row of declining prices for the metal.
The price of Chinese copper bar finished the week down 0.5 percent. For the third week in a row, the cash price of Chinese copper dropped, falling 0.5 percent as well. The price of Chinese copper wire fell 0.5 percent over the past week, the third week in a row of declining prices.
The prices of US copper producer grades 102, 110 and 122 dropped 0.5 percent this week.
The week finished with no movement for Korean copper strip, and the cash price of primary Japanese copper stayed essentially flat.
The cash price of primary copper fell 0.5 percent last week on the LME, settling at $7,815 per metric ton. The copper 3-month price declined to $7,810 per metric ton after drifting 0.5 percent on the LME since last 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.