Copper MMI®: Chinese Bright Copper Scrap Gains 6.9% for Week

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Chinese bright copper scrap improved by 6.9 percent, reaching CNY 44,910 ($7,326) per metric ton on the weekly Copper MMI®. The price of Chinese copper wire rose 5.7 percent to CNY 53,810 ($8,777) per metric ton after falling 2.8 percent during the previous week. The price of Chinese copper bar rose 3.9 percent to CNY 54,570 ($8,901) per metric ton after falling 2.1 percent during the previous week. The cash price of Chinese copper rose 3.9 percent to CNY 54,770 ($8,934) per metric ton after falling 2.0 percent during the previous week.

The Japanese copper cash price closed last week at JPY 758,000 ($7,522) per metric ton after a 6.8 percent rise in its price. The price of US copper producer grade 122 rose 6.4 percent to $4.01 per pound after falling 3.3 percent during the previous week. The price of US copper producer grade 110 rose 6.4 percent to $4.01 per pound after falling 3.3 percent during the previous week. The price of US copper producer grade 102 rose 6.1 percent to $4.20 per pound after falling 3.2 percent during the previous week. Korean copper strip prices held steady from the previous week at KRW 11,300 ($10.35) per kilogram.

The primary copper cash price rose 6.4 percent on the LME to $7,310 per metric ton after falling 2.3 percent during the previous week. The copper 3-month price rose 6.3 percent on the LME to $7,335 per metric ton after falling 2.2 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.