The biggest mover on the weekly Copper MMI® was the 3-month price of copper, which saw a 2.5 percent increase on the LME to $8,046 per metric ton. This week marked the third in a row of rising prices for the metal.
The cash price of primary copper rose 2 percent on the LME this week, closing out the third week at $8,020 per metric ton.
The price of Chinese bright copper scrap rose 1.7 percent after falling 3.3 percent during the previous week. Closing out the third week of rising prices, the price of Chinese copper wire increased by 1 percent. The price of Chinese copper bar rose 0.8 percent over the past week. This was the third week in a row of increasing prices. The cash price of Chinese copper finished the week 0.8 percent higher.
The price of US copper producer grade 102 rose 1.4 percent over the past week. This was the third week in a row of increasing prices. The price of US copper producer grade 122 finished the week 0.9 percent higher. The price of US copper producer grade 110 also rose 0.9 percent this week.
The price of Korean copper strip did not change since the previous week. The cash price of primary Japanese copper stayed essentially flat.
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.