Copper MMI®: Cash Price of Japanese Copper Falls 2.3% for the Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Copper MMI® was the cash price of Japanese copper, which saw a 2.3 percent decline to JPY 735,000 ($7,487) per metric ton. This comes on the heels of a 3.0 percent increase the week before. Following a 0.8 percent increase in the week prior, the price of US copper producer grade 122 fell 1.3 percent last week to $3.94 per pound. The price of US copper producer grade 110 fell 1.3 percent to $3.94 per pound after rising 0.8 percent the week before. Following a 0.7 percent increase in the week prior, the price of US copper producer grade 102 fell 1.2 percent last week to $4.13 per pound. Korean copper strip remained essentially flat from the previous week at KRW 11,300 ($10.66) per kilogram.

Chinese copper prices were mixed for the week. The price of Chinese copper wire fell 0.6 percent to CNY 51,610 ($8,471) per metric ton after rising 0.1 percent the week before. Following a 0.4 percent increase in the week prior, the price of Chinese copper bar fell 0.6 percent last week to CNY 52,620 ($8,637) per metric ton. The cash price of Chinese copper fell 0.6 percent to CNY 52,820 ($8,670) per metric ton after rising 0.4 percent the week before. Prices for Chinese bright copper scrap remained constant, closing the week at CNY 42,810 ($7,027) per metric ton.

Following a 1.0 percent increase in the week prior, the copper 3-month price fell 1.7 percent on the LME last week to $7,117 per metric ton. The cash price of primary copper fell 1.6 percent on the LME to $7,119 per metric ton after rising 1.0 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.

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