Copper MMI®: Copper Cash Price Falls for Third Straight Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Copper MMI® was the cash price of primary copper, which saw a 2.5 percent decline on the LME to $6,939 per metric ton. This week marked the third in a row of declining prices for the metal. The 3-month price of copper fell 2.4 percent on the LME over the past week to $6,949 per metric ton. This was the third week in a row of declining prices.

Chinese copper prices were mixed for the week. At CNY 50,725 ($8,324) per metric ton, the price of Chinese copper wire finished the week down 1.7 percent. Closing out the third week of declining prices, the price of Chinese copper bar dropped by 1.6 percent, finishing at CNY 51,800 ($8,501) per metric ton. For the third week in a row, the cash price of Chinese copper dropped, falling 1.6 percent to CNY 52,000 ($8,534) per metric ton. Chinese bright copper scrap saw its price rise 1.0 percent over the past week to CNY 43,230 ($7,094) per metric ton.

The price of US copper producer grade 122 dropped 2.0 percent this week, closing out the third consecutive week of falling prices at $3.86 per pound. The price of US copper producer grade 110 fell 2.0 percent over the past week to $3.86 per pound. This was the third week in a row of declining prices. Closing out the third week of declining prices, the price of US copper producer grade 102 dropped by 1.9 percent, finishing at $4.05 per pound. The cash price of primary Japanese copper dropped 1.2 percent this week, closing out the third consecutive week of falling prices at JPY 726,000 ($7,243) per metric ton. Prices for Korean copper strip remained constant, closing the week at KRW 11,300 ($10.57) per kilogram.

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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