Copper MMI®: Cash Price of Primary Copper Rises 1.2% for the Week

by on
Style:
Category:
Members Only, Metal Prices, Premium

The week’s biggest mover on the weekly Copper MMI® was the cash price of primary copper, which saw a 1.2 percent increase on the LME to $7,762 per metric ton. This comes on the heels of a 2.0 percent decline the week prior. The copper 3-month price rose 1.0 percent on the LME to $7,790 per metric ton after falling 2.0 percent during the previous week.

Chinese copper prices were up for the week. The price of Chinese copper bar rose 0.6 percent to CNY 57,850 ($9,308) per metric ton after falling 0.1 percent during the previous week. The cash price of Chinese copper rose 0.6 percent to CNY 58,050 ($9,340) per metric ton after falling 0.1 percent during the previous week. Chinese copper wire saw its price rise 0.4 percent over the past week to CNY 56,800 ($9,139) per metric ton. The price of Chinese bright copper scrap rose 0.3 percent to CNY 46,850 ($7,538) per metric ton after falling 1.5 percent during the previous week.

The price of US copper producer grade 122 rose 0.5 percent to $4.16 per pound after falling 0.5 percent during the previous week. The price of US copper producer grade 110 rose 0.5 percent to $4.16 per pound after falling 0.5 percent during the previous week. The price of US copper producer grade 102 rose 0.5 percent to $4.35 per pound after falling 0.5 percent during the previous week. Korean copper strip prices held steady from the previous week at KRW 11,300 ($10.28) per kilogram. The Japanese copper cash price stayed essentially flat at JPY 640,000 ($6,668) 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.