The week’s biggest mover on the weekly Copper MMI® was US copper producer grade 122 price, which saw a 2.9 percent increase to $4.33 per pound. This comes on the heels of a 0.2 percent decline the week prior. The price of US copper producer grade 110 rose 2.9 percent to $4.33 per pound after falling 0.2 percent during the previous week. Last week, the price of US copper producer grade 102 shifted slightly, rising by 2.7 percent to close at $4.52 per pound. Korean copper strip traded sideways last week, hovering around KRW 11,300 ($10.65) per kilogram. The Japanese copper cash price closed at JPY 640,000 ($7,173) per metric ton after a flat week.
Prices for Chinese copper were up for the week. Chinese bright copper scrap prices ticked up 1.5 percent over the past week to CNY 48,800 ($7,839) per metric ton. In the past week, Chinese copper bar saw its price shift up 0.7 percent to CNY 58,840 ($9,451) per metric ton. The Chinese copper cash price rose 0.7 percent over the past week to CNY 59,040 ($9,483) per metric ton. Following a 0.7 percent increase, Chinese copper wire finished the week at CNY 57,875 ($9,296) per metric ton.
Following a 3.4 percent increase in the week prior, the copper 3-month price fell 0.3 percent on the LME last week to $8,116 per metric ton. The primary copper cash price fell 0.3 percent on the LME to $8,145 per metric ton after rising 3.4 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.