Chinese Copper Scrap Shoots Up on Weekly Price Index

The week’s biggest mover on the weekly Copper MMI® was the price of Chinese bright copper scrap, which saw a 8.4 percent increase. This comes on the heels of a 1.0 percent decline the week prior.

Compare with last month’s trends – here’s our free June MMI® Report.

The price of Chinese copper bar rose 2.4 percent after falling 2.3 percent during the previous week. The cash price of Chinese copper rose 2.4 percent after falling 2.2 percent during the previous week. The price of Chinese copper wire rose 2.3 percent after falling 2.1 percent during the previous week.

The cash price of primary Japanese copper rose 6.6 percent after falling 2.0 percent during the previous week. The price of US copper producer grade 122 rose 3.2 percent after falling 0.3 percent during the previous week. The price of US copper producer grade 110 rose 3.2 percent after falling 0.3 percent during the previous week. The price of US copper producer grade 102 rose 3.1 percent after falling 0.3 percent during the previous week.

Following a steady week, prices for Korean copper strip closed flat.

The primary copper cash price rose 3.2 percent on the LME to $6,921 per metric ton after falling 1.5 percent during the previous week. The copper 3-month price rose 2.9 percent on the LME to $6,926 per metric ton after falling 1.5 percent during the previous week.

Don’t forget to see June 2013 MMI price trends before July’s report comes out tomorrow!

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.