Chinese Primary, Scrap Copper Prices Down Again on Weekly Index

by on

The week’s biggest mover on the weekly Copper MMI® was the price of Chinese copper bar, which saw a 2.3 percent decline. This week marked the third in a row of declining prices for the metal.

Closing out the third week of declining prices, the cash price of Chinese copper dropped by 2.2 percent. The price of Chinese copper wire fell 2.1 percent over the past week. This was the third week in a row of declining prices. After a 1.0 percent decline, Chinese bright copper scrap closed out the week lower.

FREE Download: The latest Monthly MMI® Report – covering the Copper market!

The cash price of primary Japanese copper dropped 2.0 percent this week, closing out the third consecutive week of falling prices. The price of US copper producer grade 122 finished the week down 0.3 percent. For the third week in a row, the price of US copper producer grade 110 dropped, falling 0.3 percent. The price of US copper producer grade 102 dropped 0.3 percent this week, closing out the third consecutive week of falling prices.

Korean copper strip prices held steady from the previous week.

For the third week in a row, the 3-month price of copper dropped, falling 1.5 percent on the LME to $6,731 per metric ton. The cash price of primary copper fell 1.5 percent on the LME over the past week to $6,705 per metric ton. This was the third week in a row of declining prices.

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.