The biggest mover on the weekly Copper MMI® was Chinese copper wire, which saw a 0.5 percent increase.
Chinese copper bar saw its price rise 0.4 percent over the past week. The cash price of Chinese copper shifted up 0.4 percent. Chinese bright copper scrap traded sideways last week.
The price of US copper producer grade 122 rose 0.5 percent over the past week. This was the third week in a row of increasing prices. Closing out the third week of rising prices, the price of US copper producer grade 110 also increased by 0.5 percent. The price of US copper producer grade 102 remained unchanged.
Korean copper strip remained essentially flat from the previous week. The cash price of primary Japanese copper stayed essentially flat.
Following a 2 percent increase in the week prior, the cash price of primary copper fell 0.2 percent on the LME last week to $8,000 per metric ton. The copper 3-month price fell 0.2 percent on the LME to $8,030 per metric ton after rising 2.5 percent the week before.
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.