Copper MMI®: Chinese Bright Copper Scrap Falls for Third Straight Week

The week’s biggest mover on the weekly Copper MMI® was the price of Chinese bright copper scrap, which saw a 4.2 percent decline to CNY 42,030 ($6,808) per metric ton. This week marked the third in a row of declining prices for the metal. The price of Chinese copper bar rose 2.9 percent to CNY 53,600 ($8,682) per metric ton after falling 7.4 percent during the previous week. The cash price of Chinese copper rose 2.9 percent to CNY 53,800 ($8,714) per metric ton after falling 7.4 percent during the previous week. The price of Chinese copper wire rose 2.4 percent to CNY 52,360 ($8,481) per metric ton after falling 7.7 percent during the previous week.

The Japanese copper cash price fell 1.4 percent last week, settling at JPY 709,000 ($7,137) per metric ton. The price of US copper producer grade 122 rose 1.0 percent to $3.90 per pound after falling 5.4 percent during the previous week. The price of US copper producer grade 110 rose 1.0 percent to $3.90 per pound after falling 5.4 percent during the previous week. The price of US copper producer grade 102 rose 1.0 percent to $4.09 per pound after falling 5.2 percent during the previous week. Closing at KRW 11,300 ($10.17) per kilogram, Korean copper strip remained unchanged for the week.

The cash price of primary copper rose 1.0 percent on the LME to $7,033 per metric ton after falling 7.3 percent during the previous week. The 3-month price of copper rose 0.9 percent on the LME to $7,055 per metric ton after falling 7.3 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.