Copper MMI®: Cash Price of Primary Copper Falls for Fourth Week in a Row

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The week’s biggest mover on the weekly Copper MMI® was the cash price of primary copper, which saw a 2.0 percent decline on the LME to $7,670 per metric ton. Last week marked the fourth in a row of declining prices for the metal. The 3-month price of copper fell 2.0 percent on the LME over the past week to $7,710 per metric ton. This was the fourth week in a row of declining prices.

Chinese copper prices were mixed for the week. Chinese bright copper scrap saw a 1.5 percent decline over the past week to CNY 46,730 ($7,510) per metric ton. The price of Chinese copper bar fell 0.1 percent over the past week to CNY 57,480 ($9,237) per metric ton. This was the fourth week in a row of declining prices. The Chinese copper cash price fell 0.1 percent over the past week to CNY 57,680 ($9,269) per metric ton. This was the fourth week in a row of declining prices. Chinese copper wire remained essentially flat from the previous week at CNY 56,580 ($9,093) per metric ton.

The price of US copper producer grade 122 fell 0.5 percent over the past week to $4.14 per pound. This was the fourth week in a row of declining prices. The price of US copper producer grade 110 fell 0.5 percent over the past week to $4.14 per pound. This was the fourth week in a row of declining prices. The price of US copper producer grade 102 fell 0.5 percent over the past week to $4.33 per pound. This was the fourth week in a row of declining prices. Prices for Korean copper strip remained constant, closing the week at KRW 11,300 ($10.42) per kilogram. The cash price of primary Japanese copper stayed essentially flat at JPY 640,000 ($6,742) 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.