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 percent over the past week. Chinese copper bar gained a slight 0.8 percent this past week. The Chinese copper cash price shifted up 0.8 percent as well. Chinese bright copper scrap traded sideways last week.
The price of US copper producer grade 122 rose 1.4 percent over the past week, US copper producer grade 110 rose 1.4 percent and the price of US copper producer grade 102 ticked up 1.3 percent over the past week.
Following a steady week, prices for Korean copper strip closed flat. The cash price of primary Japanese copper stayed essentially flat as well.
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.