The biggest mover on the weekly Copper MMI® was the 3-month price of copper, which saw a 4.4 percent decline on the LME to $7,874 per metric ton. This comes on the heels of a 0.3 percent increase the week before.
The primary copper cash price fell to $7,847 per metric ton after a 4.3 percent decrease on the LME from the previous week.
Chinese copper prices were mixed for the week. Chinese copper wire prices were off slightly. Chinese copper bar fell 2.5 percent over the past week. The Chinese copper cash price closed last week after a 2.5 percent drop. Chinese bright copper scrap saw its price rise 0.2 percent over the past week.
This week, the price of US copper producer grade 122 fell 3.9 percent. The price of US copper producer grade 110 also fell 3.9 percent from the prior week. The price of US copper producer grade 102 fell after a 3.7 percent decrease from the previous week.
Korean copper strip remained unchanged for the week. Prices for the cash price of primary Japanese copper closed 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.