Copper MMI®: Chinese Bright Copper Scrap Falls 18.8% for the Week

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The week’s biggest mover on the weekly Copper MMI® was the price of Chinese bright copper scrap, which saw a 18.8 percent decline to CNY 42,830 ($6,997) per metric ton. This comes on the heels of a 0.4 percent increase the week before. The price of Chinese copper bar rose 0.4 percent to CNY 52,850 ($8,634) per metric ton after falling 1.1 percent during the previous week. The Chinese copper cash price rose 0.4 percent to CNY 53,050 ($8,667) per metric ton after falling 1.1 percent during the previous week. The price of Chinese copper wire rose 0.3 percent to CNY 51,925 ($8,483) per metric ton after falling 1.1 percent during the previous week.

The price of US copper producer grade 122 rose 3.4 percent to $4.01 per pound after falling 0.8 percent during the previous week. The price of US copper producer grade 110 rose 3.4 percent to $4.01 per pound after falling 0.8 percent during the previous week. The price of US copper producer grade 102 rose 3.2 percent to $4.20 per pound after falling 0.7 percent during the previous week. Closing out the fifth week of rising prices, the cash price of primary Japanese copper gained 0.3 percent, finishing at JPY 745,000 ($7,495) per metric ton. Korean copper strip traded sideways last week, hovering around KRW 11,300 ($10.45) per kilogram.

The primary copper cash price rose 3.7 percent on the LME to $7,302 per metric ton after falling 0.8 percent during the previous week. The 3-month price of copper rose 3.6 percent on the LME to $7,330 per metric ton after falling 0.8 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.

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