Copper MMI®: Cash Price of Japanese Copper Falls 8.1% for the Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Copper MMI® was the Japanese copper cash price, which saw a 8.1 percent decline to JPY 719,000 ($7,320) per metric ton. This comes on the heels of a 22.2 percent increase the week before. Following a 2.5 percent increase in the week prior, the price of US copper producer grade 122 fell 5.4 percent last week to $3.86 per pound. The price of US copper producer grade 110 fell 5.4 percent to $3.86 per pound after rising 2.5 percent the week before. Following a 2.4 percent increase in the week prior, the price of US copper producer grade 102 fell 5.2 percent last week to $4.05 per pound. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.06) per kilogram.

Chinese copper prices were down for the week. The price of Chinese copper wire fell 7.7 percent to CNY 51,150 ($8,252) per metric ton after rising 1.2 percent the week before. Following a 0.9 percent increase in the week prior, the price of Chinese copper bar fell 7.4 percent last week to CNY 52,100 ($8,405) per metric ton. The Chinese copper cash price fell 7.4 percent to CNY 52,300 ($8,437) per metric ton after rising 0.9 percent the week before. Chinese bright copper scrap weakened by 7.1 percent to land at CNY 43,860 ($7,076) per metric ton.

Following a 2.4 percent increase in the week prior, the cash price of primary copper fell 7.3 percent on the LME last week to $6,962 per metric ton. The 3-month price of copper fell 7.3 percent on the LME to $6,995 per metric ton after rising 2.3 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.