Prices for Chinese copper bar saw the biggest increase on the weekly Copper MMI® this week, rising 1.5 percent and settling at CNY 53,650 ($8,763) per metric ton. The cash price of Chinese copper rose 1.5 percent over the past week to CNY 53,850 ($8,796) per metric ton. Chinese copper wire prices ticked up 1.4 percent over the past week to CNY 52,640 ($8,598) per metric ton. At CNY 42,830 ($6,996) per metric ton, the week finished with no movement for Chinese bright copper scrap.
Following a 0.3 percent increase in the week prior, the cash price of primary Japanese copper fell 1.1 percent last week to JPY 737,000 ($7,451) per metric ton. The price of US copper producer grade 122 fell 1.0 percent to $3.97 per pound after rising 3.4 percent the week before. Following a 3.4 percent increase in the week prior, the price of US copper producer grade 110 fell 1.0 percent last week to $3.97 per pound. The price of US copper producer grade 102 fell 1.0 percent to $4.16 per pound after rising 3.2 percent the week before. Korean copper strip prices held steady from the previous week at KRW 11,300 ($10.51) per kilogram.
Following a 3.6 percent increase in the week prior, the 3-month price of copper fell 1.2 percent on the LME last week to $7,245 per metric ton. The primary copper cash price fell 1.1 percent on the LME to $7,220 per metric ton after rising 3.7 percent the week before.
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.