Copper MMI®: Cash Price of Japanese Copper Rises 3.5% for the Week

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The week’s biggest mover on the weekly Copper MMI® was the cash price of Japanese copper, which saw a 3.5 percent increase to JPY 748,000 ($7,632) per metric ton. This comes on the heels of a 2.0 percent decline the week prior. The price of US copper producer grade 122 rose 1.5 percent to $3.98 per pound after falling 0.5 percent during the previous week. The price of US copper producer grade 110 rose 1.5 percent to $3.98 per pound after falling 0.5 percent during the previous week. The price of US copper producer grade 102 rose 1.5 percent to $4.17 per pound after falling 0.5 percent during the previous week. Korean copper strip remained essentially flat from the previous week at KRW 11,300 ($10.61) per kilogram.

Chinese copper prices were mixed for the week. The price of Chinese copper wire rose 0.3 percent to CNY 52,440 ($8,597) per metric ton after falling 0.7 percent during the previous week. The price of Chinese copper bar rose 0.2 percent to CNY 53,250 ($8,730) per metric ton after falling 0.8 percent during the previous week. The Chinese copper cash price rose 0.2 percent to CNY 53,450 ($8,763) per metric ton after falling 0.8 percent during the previous week. Following a steady week, prices for Chinese bright copper scrap closed flat at CNY 43,140 ($7,072) per metric ton.

The cash price of primary copper rose 0.4 percent on the LME to $7,172 per metric ton after falling 1.0 percent during the previous week. The 3-month price of copper rose 0.4 percent on the LME to $7,205 per metric ton after falling 0.9 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.

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