The 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 after falling 0.1 percent during the previous week. The cash price of Chinese copper rose 0.6 percent after falling 0.1 percent during the previous week. Chinese copper wire saw its price rise 0.4 percent over the past week. The price of Chinese bright copper scrap rose 0.3 percent after falling 1.5 percent during the previous week.
The prices of US copper producer grades 102, 110 and 122 rose 0.5 percent after falling 0.5 percent during the previous week. Korean copper strip prices held steady from the previous week. 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.