Copper MMI®: Japanese Copper Cash Price Falls 2.4% for the Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Copper MMI® was the Japanese copper cash price, which saw a 2.4 percent decline to JPY 730,000 ($7,496) per metric ton. This comes on the heels of a 3.5 percent increase the week before. The price of US copper producer grade 122 fell 0.5 percent to $3.96 per pound after rising 1.5 percent the week before. Following a 1.5 percent increase in the week prior, the price of US copper producer grade 110 fell 0.5 percent last week to $3.96 per pound. The price of US copper producer grade 102 fell 0.5 percent to $4.15 per pound after rising 1.5 percent the week before. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.64) per kilogram.

Chinese copper prices were mixed for the week. Following a 0.3 percent increase in the week prior, the price of Chinese copper wire fell 1.1 percent last week to CNY 51,850 ($8,526) per metric ton. The price of Chinese copper bar fell 1.0 percent to CNY 52,720 ($8,669) per metric ton after rising 0.2 percent the week before. Following a 0.2 percent increase in the week prior, the cash price of Chinese copper fell 1.0 percent last week to CNY 52,920 ($8,702) per metric ton. Following a 0.8 percent increase, Chinese bright copper scrap finished the week at CNY 43,490 ($7,151) per metric ton.

The copper 3-month price fell 0.5 percent on the LME to $7,171 per metric ton after rising 0.4 percent the week before. Following a 0.4 percent increase in the week prior, the cash price of primary copper fell 0.2 percent on the LME last week to $7,160 per metric ton.

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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