This past week, Chinese copper wire dropped 1.2 percent on the weekly Copper MMI®, landing at CNY 55,200 ($8,885) per metric ton as the week’s biggest mover. Chinese copper bar saw a 1.1 percent decline over the past week to CNY 56,180 ($9,043) per metric ton. Following a 1.1 percent drop, the Chinese copper cash price finished the week at CNY 56,380 ($9,075) per metric ton. Chinese bright copper scrap gained a slight 0.7 percent this past week, finishing at CNY 47,460 ($7,639) per metric ton.
The price of US copper producer grade 122 rose 0.2 percent to $4.07 per pound after falling 2.4 percent during the previous week. The price of US copper producer grade 110 rose 0.2 percent to $4.07 per pound after falling 2.4 percent during the previous week. The price of US copper producer grade 102 rose 0.2 percent to $4.26 per pound after falling 2.3 percent during the previous week. Prices for Korean copper strip remained constant, closing the week at KRW 11,300 ($10.15) per kilogram. Closing at JPY 640,000 ($6,795) per metric ton, 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.