The biggest movers on the weekly Copper MMI® were the US copper producer prices for grades 110 and 122, which saw a 2.9 percent increase. This comes on the heels of a 0.2 percent decline the week prior.
Last week, the price of US copper producer grade 102 shifted up as well, rising by 2.7 percent. Korean copper strip traded sideways last week. The Japanese copper cash price closed after a flat week.
Prices for Chinese copper were up for the week. Chinese bright copper scrap prices ticked up 1.5 percent. Chinese copper bar saw its price shift up 0.7 percent. The Chinese copper cash price rose 0.7 percent. Following a 0.7 percent increase, Chinese copper wire finished the week up too.
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.