This past week, Chinese copper wire dropped 1.2 percent on the Copper MMI®, the week’s biggest mover.
Chinese copper bar saw a 1.1 percent decline over the past week. Following a 1.1 percent drop, the Chinese copper cash price finished the week down. Chinese bright copper scrap gained a slight 0.7 percent this past week.
The price of US copper producer grade 122 rose 0.2 percent after falling 2.4 percent during the previous week. The price of US copper producer grade 110 rose 0.2 percent after falling 2.4 percent during the previous week. The price of US copper producer grade 102 rose 0.2 percent after falling 2.3 percent during the previous week.
Prices for Korean copper strip remained constant. The cash price of primary Japanese copper remained unchanged for the week.
The 3-month price of copper fell 0.2 percent on the LME over the past week to $7,613 per metric ton. This was the fourth week in a row of declining prices. At $7,582 per metric ton, the cash price of primary copper remained essentially flat on the LME.
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.