Copper MMI®: Chinese Bright Copper Scrap Gains 5.5% for Week

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Metal Prices, Premium

Prices for Chinese bright copper scrap saw the biggest increase on the weekly Copper MMI® this week, rising 5.5 percent and settling at CNY 44,200 ($7,220) per metric ton. The price of Chinese copper bar fell 0.4 percent to CNY 54,150 ($8,845) per metric ton 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 to CNY 54,350 ($8,877) per metric ton. Prices for Chinese copper wire remained constant, closing the week at CNY 53,290 ($8,704) per metric ton.

The cash price of primary Japanese copper fell 1.1 percent to JPY 739,000 ($7,473) per metric ton after rising 5.5 percent the week before. The price of US copper producer grade 122 closed at $4.00 per pound after a flat week. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.08) per kilogram. Closing at $4.19 per pound, the price of US copper producer grade 102 remained unchanged for the week. Following a steady week, prices for the price of US copper producer grade 110 closed flat at $4.00 per pound.

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.