Copper MMI®: US Copper Producer Grade 102 Price 1.6% Lower for Week

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Following a 1.6 percent decline to $4.35 per pound, the price of US copper producer grade 102 finished as the week’s biggest mover on the weekly Copper MMI®. The price of US copper producer grade 122 saw a 0.2 percent drop this week, closing at $4.22 per pound. The price of US copper producer grade 110 fell 0.2 percent for the week to settle at $4.22 per pound. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.54) per kilogram. The cash price of primary Japanese copper stayed essentially flat at JPY 640,000 ($7,397) per metric ton.

Chinese copper prices were mixed for the week. The price of Chinese copper wire rose 1.3 percent to CNY 56,850 ($9,109) per metric ton after falling 2.1 percent during the previous week. The price of Chinese copper bar rose 1.2 percent to CNY 57,700 ($9,246) per metric ton after falling 2.0 percent during the previous week. The cash price of Chinese copper rose 1.2 percent to CNY 57,900 ($9,278) per metric ton after falling 2.0 percent during the previous week. After a 1.0 percent decline, Chinese bright copper scrap closed out the week at CNY 47,900 ($7,675) per metric ton.

The 3-month price of copper rose 0.6 percent on the LME to $7,871 per metric ton after falling 2.6 percent during the previous week. The cash price of primary copper rose 0.6 percent on the LME to $7,897 per metric ton after falling 1.9 percent during the previous 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.

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