Copper MMI®: Largest Weekly Gain Goes to Cash Price of Japanese Copper

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The Japanese copper cash price saw the largest upwards shift on the weekly Copper MMI®, rising 22.2 percent to settle at JPY 782,000 ($7,849) per metric ton. The price of US copper producer grade 122 rose 2.5 percent to $4.08 per pound after falling 2.2 percent during the previous week. The price of US copper producer grade 110 rose 2.5 percent to $4.08 per pound after falling 2.2 percent during the previous week. The price of US copper producer grade 102 rose 2.4 percent to $4.27 per pound after falling 2.1 percent during the previous week. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.01) per kilogram.

Chinese copper prices were mixed for the week. The price of Chinese copper wire rose 1.2 percent to CNY 55,420 ($8,941) per metric ton after falling 0.8 percent during the previous week. The price of Chinese copper bar rose 0.9 percent to CNY 56,270 ($9,078) per metric ton after falling 0.7 percent during the previous week. The Chinese copper cash price rose 0.9 percent to CNY 56,470 ($9,111) per metric ton after falling 0.7 percent during the previous week. Chinese bright copper scrap fell 0.5 percent over the past week to CNY 47,220 ($7,618) per metric ton.

The primary copper cash price rose 2.4 percent on the LME to $7,510 per metric ton after falling 3.2 percent during the previous week. The copper 3-month price rose 2.3 percent on the LME to $7,545 per metric ton after falling 3.2 percent during the previous week.

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.