But First, Daily Copper Prices
The day’s biggest mover on MetalMiner’s copper price index was the LME copper 3-month price, which dropped by 0.5 percent on Nov. 16, 2012 to close at $7,605 per metric ton. The primary copper cash price saw a 0.3 percent decline on the LME to $7,615 per metric ton.
The prices of US copper producer grades 102, 110 and 122 all gained 0.2 percent on the day. The cash price of primary Japanese copper was unchanged.
Chinese copper bar gained 0.4 percent, as did the cash price of Chinese copper. Chinese copper wire prices rose 0.3 percent, while Chinese bright copper scrap stayed flat.
Weekly Copper Price Trends
The biggest mover on the weekly Copper MMI® was Chinese bright copper scrap, which saw a 0.9 percent increase. The price of Chinese copper wire fell 0.4 percent, Chinese copper bar prices fell 0.3 percent and Chinese copper cash prices also fell 0.3 percent over the past week — the third week in a row of declining prices for the three metal forms.
The price of US copper producer grades 102, 110 and 122 all fell 0.2 percent over the past week, also the third week in a row of dropping producer prices.
Prices for Korean copper strip remained constant, and the Japanese copper cash price remained steady as well.
The primary copper cash price rose 0.1 percent on the LME to $7,615 per metric ton after falling 2.7 percent during the previous week. Also on the LME, the copper 3-month price closed at $7,605 per metric ton after a 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.