Copper MMI®: Japanese Copper Cash Price Rises 3.0% for the Week

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The week’s biggest mover on the weekly Copper MMI® was the Japanese copper cash price, which saw a 3.0 percent increase to JPY 752,000 ($7,648) per metric ton. This comes on the heels of a 2.4 percent decline the week prior. The price of US copper producer grade 122 rose 0.8 percent to $3.99 per pound after falling 0.5 percent during the previous week. The price of US copper producer grade 110 rose 0.8 percent to $3.99 per pound after falling 0.5 percent during the previous week. The price of US copper producer grade 102 rose 0.7 percent to $4.18 per pound after falling 0.5 percent during the previous week. At KRW 11,300 ($10.65) per kilogram, the week finished with no movement for Korean copper strip.

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Chinese copper prices were mixed for the week. Following a 0.8 percent increase in the week prior, the price of Chinese bright copper scrap fell 1.6 percent last week to CNY 42,810 ($7,023) per metric ton. The price of Chinese copper bar rose 0.4 percent to CNY 52,920 ($8,681) per metric ton after falling 1.0 percent during the previous week. The Chinese copper cash price rose 0.4 percent to CNY 53,120 ($8,714) per metric ton after falling 1.0 percent during the previous week. The price of Chinese copper wire rose 0.1 percent to CNY 51,920 ($8,517) per metric ton after falling 1.1 percent during the previous week.

The cash price of primary copper rose 1.0 percent on the LME to $7,233 per metric ton after falling 0.2 percent during the previous week. The 3-month price of copper rose 1.0 percent on the LME to $7,240 per metric ton after falling 0.5 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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