The biggest mover on the weekly Copper MMI® was the copper 3-month price, which saw a 0.5 percent increase on the LME to $8,212 per metric ton. This week marked the third in a row of rising prices for the metal.
Closing out the third week of rising prices, the primary copper cash price increased by 0.5 percent on the LME, landing at $8,252 per metric ton.
Chinese copper prices were mixed for the week. The price of Chinese copper wire finished the week 0.5 percent higher. The price of Chinese copper bar rose 0.2 percent this week, closing out the third week of increases. The cash price of Chinese copper rose 0.2 percent over the past week. This was the third week in a row of increasing cash prices. However, Chinese bright copper scrap traded sideways last week.
Following a steady week, prices for Korean copper strip closed flat. The Japanese copper cash price stayed essentially flat.
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.