The biggest mover on the weekly Copper MMI® was the cash price of primary copper, which saw a 2 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 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. The price of Chinese copper bar fell 0.1 percent. This was the fourth week in a row of declining prices.
The Chinese copper cash price fell 0.1 percent over the past week, also the fourth week in a row of declining prices. Chinese copper wire remained essentially flat from the previous week.
The prices of US copper producer grades 102, 110 and 122 fell 0.5 percent over the past week, the fourth week in a row of declining prices.
Prices for Korean copper strip remained constant, and the cash price of primary Japanese copper stayed 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.