Copper MMI®: Chinese Bright Copper Scrap Rises 8.4% for the Week

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Metal Prices, Premium

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 to CNY 43,410 ($7,085) per metric ton. This comes on the heels of a 1.0 percent decline the week prior. The price of Chinese copper bar rose 2.4 percent to CNY 51,150 ($8,348) per metric ton after falling 2.3 percent during the previous week. The cash price of Chinese copper rose 2.4 percent to CNY 51,350 ($8,381) per metric ton after falling 2.2 percent during the previous week. The price of Chinese copper wire rose 2.3 percent to CNY 50,180 ($8,190) per metric ton after falling 2.1 percent during the previous week.

The cash price of primary Japanese copper rose 6.6 percent to JPY 729,000 ($7,272) per metric ton after falling 2.0 percent during the previous week. The price of US copper producer grade 122 rose 3.2 percent to $3.84 per pound after falling 0.3 percent during the previous week. The price of US copper producer grade 110 rose 3.2 percent to $3.84 per pound after falling 0.3 percent during the previous week. The price of US copper producer grade 102 rose 3.1 percent to $4.03 per pound after falling 0.3 percent during the previous week. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($9.96) per kilogram.

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.

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.