Copper MMI®: Cash Price of Primary Copper Rises 1.5% for the Week

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The week’s biggest mover on the weekly Copper MMI® was the cash price of primary copper, which saw a 1.5 percent increase on the LME to $8,075 per metric ton. This comes on the heels of a 2.3 percent decline the week prior. The copper 3-month price rose 1.4 percent on the LME to $8,036 per metric ton after falling 2.4 percent during the previous week.

Chinese copper prices were mixed for the week. The price of Chinese copper bar rose 0.9 percent to CNY 59,020 ($9,488) per metric ton after falling 0.5 percent during the previous week. The cash price of Chinese copper rose 0.9 percent to CNY 59,220 ($9,520) per metric ton after falling 0.5 percent during the previous week. The price of Chinese copper wire rose 0.7 percent to CNY 58,100 ($9,340) per metric ton after falling 0.3 percent during the previous week. Chinese bright copper scrap prices held steady from the previous week at CNY 48,800 ($7,845) per metric ton.

The price of US copper producer grade 122 rose 0.5 percent to $4.30 per pound after falling 1.2 percent during the previous week. The price of US copper producer grade 110 rose 0.5 percent to $4.30 per pound after falling 1.2 percent during the previous week. The price of US copper producer grade 102 rose 0.4 percent to $4.49 per pound after falling 1.1 percent during the previous week. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.59) per kilogram. The Japanese copper cash price closed at JPY 640,000 ($7,066) per metric ton after a flat 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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