Copper MMI®: Japanese Copper Cash Price Rises 1.2% 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 1.2 percent increase to JPY 735,000 ($7,254) per metric ton. This comes on the heels of a 1.2 percent decline the week prior. The price of US copper producer grade 122 rose 0.8 percent to $3.89 per pound after falling 2.0 percent during the previous week. The price of US copper producer grade 110 rose 0.8 percent to $3.89 per pound after falling 2.0 percent during the previous week. The price of US copper producer grade 102 rose 0.7 percent to $4.08 per pound after falling 1.9 percent during the previous week. Korean copper strip traded sideways last week, hovering around KRW 11,300 ($10.71) per kilogram.

Chinese copper prices were mixed for the week. The price of Chinese copper wire rose 0.6 percent to CNY 51,030 ($8,373) per metric ton after falling 1.7 percent during the previous week. At CNY 51,850 ($8,508) per metric ton, the week finished with no movement for Chinese copper bar. This past week, the Chinese copper cash price kept quiet, holding at at CNY 52,050 ($8,540) per metric ton. Prices for Chinese bright copper scrap remained constant, closing the week at CNY 43,230 ($7,093) per metric ton.

The cash price of primary copper rose 0.8 percent on the LME to $6,991 per metric ton after falling 2.5 percent during the previous week. The 3-month price of copper rose 0.6 percent on the LME to $6,992 per metric ton after falling 2.4 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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