The week’s biggest mover on the weekly Copper MMI® was US copper producer grade 122 price, which saw a 2.4 percent decline to $4.06 per pound. This comes on the heels of a 0.5 percent increase the week before. The price of US copper producer grade 110 fell 2.4 percent to $4.06 per pound after rising 0.5 percent the week before. Following a 0.5 percent increase in the week prior, the price of US copper producer grade 102 fell 2.3 percent last week to $4.25 per pound. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.12) per kilogram. The Japanese copper cash price closed at JPY 640,000 ($6,743) per metric ton after a flat week.
Chinese copper prices were mixed for the week. The price of Chinese copper bar fell 1.8 percent to CNY 56,820 ($9,146) per metric ton after rising 0.6 percent the week before. Following a 0.6 percent increase in the week prior, the Chinese copper cash price fell 1.8 percent last week to CNY 57,020 ($9,178) per metric ton. The price of Chinese copper wire fell 1.6 percent to CNY 55,870 ($8,993) per metric ton after rising 0.4 percent the week before. Closing at CNY 47,130 ($7,586) per metric ton for the week, Chinese bright copper scrap rose by a slight 0.6 percent.
Following a 1.2 percent increase in the week prior, the cash price of primary copper fell 2.4 percent on the LME last week to $7,575 per metric ton. The 3-month price of copper fell 2.1 percent on the LME to $7,626 per metric ton after rising 1.0 percent the week before.
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.