The week’s biggest mover on the weekly Copper MMI® was the Japanese copper cash price, which saw a 5.0 percent decline to JPY 757,000 ($7,487) per metric ton. This comes on the heels of a 5.0 percent increase the week before. Last week, the price of US copper producer grade 122 increased by a slight 0.5 percent to $3.98 per pound. The price of US copper producer grade 110 shifted up 0.5 percent to close at $3.98 per pound this week. The price of US copper producer grade 102 ticked up 0.5 percent over the past week to $4.17 per pound. At KRW 11,300 ($10.02) per kilogram, the price of Korean copper strip did not change since the previous week.
Chinese copper prices were mixed for the week. Chinese copper wire rose 4.5 percent over the past week to CNY 56,320 ($9,182) per metric ton. Following a 1.0 percent increase in the week prior, the price of Chinese copper bar fell 0.5 percent last week to CNY 54,550 ($8,893) per metric ton. The Chinese copper cash price fell 0.5 percent to CNY 54,750 ($8,926) per metric ton after rising 1.0 percent the week before. Prices for Chinese bright copper scrap remained constant, closing the week at CNY 44,540 ($7,261) per metric ton.
Following a 2.7 percent increase in the week prior, the cash price of primary copper fell 0.5 percent on the LME last week to $7,245 per metric ton. The copper 3-month price fell 0.5 percent on the LME to $7,285 per metric ton after rising 2.7 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.