Copper MMI®: Chinese Bright Copper Scrap Rises 6.7% for the Week

by on
Style:
Category:
Metal Prices, Premium

The week’s biggest mover on the weekly Copper MMI® was the price of Chinese bright copper scrap, which saw a 6.7 percent increase to CNY 44,400 ($7,236) per metric ton. This comes on the heels of a 3.7 percent decline the week prior. The price of Chinese copper bar rose 0.5 percent to CNY 52,000 ($8,474) per metric ton after falling 0.3 percent during the previous week. The Chinese copper cash price rose 0.5 percent to CNY 52,200 ($8,507) per metric ton after falling 0.2 percent during the previous week. The price of Chinese copper wire rose 0.4 percent to CNY 50,850 ($8,287) per metric ton after falling 0.7 percent during the previous week.

Last week, the cash price of primary Japanese copper shifted slightly, rising by 2.9 percent to close at JPY 738,000 ($7,435) per metric ton. The price of US copper producer grade 122 rose 1.0 percent to $3.85 per pound after falling 1.0 percent during the previous week. The price of US copper producer grade 110 rose 1.0 percent to $3.85 per pound after falling 1.0 percent during the previous week. The price of US copper producer grade 102 rose 1.0 percent to $4.04 per pound after falling 1.0 percent during the previous week. Closing at KRW 11,300 ($10.12) per kilogram, Korean copper strip remained unchanged for the week.

The primary copper cash price rose 1.1 percent on the LME to $6,927 per metric ton after falling 2.0 percent during the previous week. The copper 3-month price rose 0.9 percent on the LME to $6,948 per metric ton after falling 1.9 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.