The week’s biggest mover on the weekly Copper MMI® was the price of Chinese copper wire, which saw a 4.8 percent decline to CNY 53,600 ($8,731) per metric ton. This comes on the heels of a 4.5 percent increase the week before. Chinese bright copper scrap prices ticked up 1.0 percent over the past week to CNY 44,980 ($7,327) per metric ton. Chinese copper bar traded sideways last week, hovering around CNY 54,500 ($8,878) per metric ton. The cash price of Chinese copper stayed essentially flat at CNY 54,700 ($8,910) per metric ton.
At JPY 749,000 ($7,705) per metric ton, the cash price of primary Japanese copper finished the week down 1.1 percent. The price of US copper producer grade 122 traded sideways last week, hovering around $3.98 per pound. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.09) per kilogram. Following a steady week, prices for the price of US copper producer grade 102 closed flat at $4.17 per pound. At $3.98 per pound, the price of US copper producer grade 110 remained essentially flat.
The primary copper cash price rose 0.9 percent on the LME to $7,311 per metric ton after falling 0.5 percent during the previous week. The 3-month price of copper rose 0.8 percent on the LME to $7,346 per metric ton after falling 0.5 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.