The biggest mover on the weekly Copper MMI® was US copper producer grade 122 price, which saw a 2.4 percent decline. 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 as well, 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.
Chinese copper prices were mixed for the week. The price of Chinese copper bar fell 1.8 percent 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. The price of Chinese copper wire fell 1.6 percent after rising 0.4 percent the week before. 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.