Copper MMI®: Copper Cash Price Falls 2.9% for the Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Copper MMI® was the cash price of primary copper, which saw a 2.9 percent decline on the LME to $7,095 per metric ton. This comes on the heels of a 6.4 percent increase the week before. Following a 6.3 percent increase in the week prior, the copper 3-month price fell 2.9 percent on the LME last week to $7,125 per metric ton.

Chinese copper prices were down for the week. The price of Chinese bright copper scrap fell 1.3 percent to CNY 44,340 ($7,208) per metric ton after rising 6.9 percent the week before. Following a 5.7 percent increase in the week prior, the price of Chinese copper wire fell 0.9 percent last week to CNY 53,320 ($8,667) per metric ton. The price of Chinese copper bar fell 0.5 percent to CNY 54,280 ($8,823) per metric ton after rising 3.9 percent the week before. Following a 3.9 percent increase in the week prior, the Chinese copper cash price fell 0.5 percent last week to CNY 54,480 ($8,856) per metric ton.

The price of US copper producer grade 122 fell 1.2 percent to $3.96 per pound after rising 6.4 percent the week before. Following a 6.4 percent increase in the week prior, the price of US copper producer grade 110 fell 1.2 percent last week to $3.96 per pound. The price of US copper producer grade 102 fell 1.2 percent to $4.15 per pound after rising 6.1 percent the week before. At JPY 759,000 ($7,430) per metric ton, the Japanese copper cash price finished the week 0.1 percent higher. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.13) per kilogram.

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.