The copper 3-month price dropped to $7,925 per metric ton, making it the biggest mover on the Copper MMI® this week, after drifting 2.4 percent on the LME.
The cash price of primary copper closed last week at $7,960 per metric ton, after a 2.3 percent drop on the LME.
Chinese copper prices were mixed for the week.
Following a 0.7 percent increase in the week prior, the price of Chinese copper bar fell 0.5 percent last week. The Chinese copper cash price fell 0.5 percent after rising 0.7 percent the week before.
Following a 0.7 percent increase in the week prior, the price of Chinese copper wire fell 0.3 percent last week. Chinese bright copper scrap remained unchanged for the week.
The price of US copper producer grade 122 fell 1.2 percent after rising 2.9 percent the week before. Following a 2.9 percent increase in the week prior, the price of US copper producer grade 110 fell 1.2 percent last week. The price of US copper producer grade 102 fell 1.1 percent after rising 2.7 percent the week before.
Following a steady week, prices for Korean copper strip closed flat. The Japanese copper cash price remained steady from 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.