The biggest mover on the weekly Copper MMI® was US copper producer grade 122 price, which saw a 3.3 percent decline. This comes on the heels of a 1.0 percent increase the week before.
Following a 1.0 percent increase in the week prior, the price of US copper producer grade 110 fell 3.3 percent last week as well. The price of US copper producer grade 102 fell 3.2 percent after rising 1.0 percent the week before.
The cash price of primary Japanese copper rose 0.1 percent after falling 1.4 percent during the previous week. The week finished with no movement for Korean copper strip.
Chinese copper prices were mixed for the week. Following a 2.4 percent increase in the week prior, the price of Chinese copper wire fell 2.8 percent last week. The price of Chinese copper bar fell 2.1 percent after rising 2.9 percent the week before. Following a 2.9 percent increase in the week prior, the cash price of Chinese copper fell 2.0 percent last week. Chinese bright copper scrap remained essentially flat from the previous week.
The primary copper cash price fell 2.3 percent on the LME to $6,870 per metric ton after rising 1.0 percent the week before. Following a 0.9 percent increase in the week prior, the copper 3-month price fell 2.2 percent on the LME last week to $6,899 per metric ton.
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.