Prices for Chinese bright copper scrap saw the biggest increase on the weekly Copper MMI® this week, rising 5.5 percent.
The price of Chinese copper bar fell 0.4 percent after rising 2.7 percent the week before. Following a 2.7 percent increase in the week prior, the cash price of Chinese copper fell 0.4 percent last week. Prices for Chinese copper wire remained constant.
The cash price of primary Japanese copper fell 1.1 percent after rising 5.5 percent the week before. The prices of US copper producer grades 102, 110 and 122 had a flat week. Prices for Korean copper strip closed flat.
At $7,367 per metric ton, the copper 3-month price finished the week 1.6 percent higher on the LME. The cash price of primary copper rose 1.6 percent on the LME over the past week to $7,340 per metric ton. This was the third week in a row of increasing 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.