Rising 1.7 percent on the LME to $8,215 per metric ton, the copper cash price saw the largest increase on the weekly Copper MMI® this week. Last week, the 3-month price of copper shifted slightly on the LME, rising by 1.6 percent to close at $8,168 per metric ton.
Chinese copper prices were mixed for the week. Chinese copper wire saw its price rise 1.0 percent over the past week to CNY 58,680 ($9,436) per metric ton. Chinese copper bar gained a slight 0.8 percent this past week, finishing at CNY 59,500 ($9,568) per metric ton. The Chinese copper cash price shifted up 0.8 percent to close at CNY 59,700 ($9,600) per metric ton this week. Chinese bright copper scrap traded sideways last week, hovering around CNY 48,760 ($7,841) per metric ton.
The price of US copper producer grade 122 rose 1.4 percent over the past week to $4.36 per pound. The price of US copper producer grade 110 rose 1.4 percent over the past week to $4.36 per pound. The price of US copper producer grade 102 ticked up 1.3 percent over the past week to $4.55 per pound. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.38) per kilogram. The cash price of primary Japanese copper stayed essentially flat at JPY 640,000 ($6,978) per metric ton.
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.