The week’s biggest mover on the weekly Copper MMI® was the Japanese copper cash price, which saw a 2.1 percent increase to JPY 776,000 ($7,493) per metric ton. This week marked the third in a row of rising prices for the metal. At $4.03 per pound, the price of US copper producer grade 122 finished the week 1.8 percent higher. The price of US copper producer grade 110 rose 1.8 percent over the past week to $4.03 per pound. This was the third week in a row of increasing prices. Closing out the third week of rising prices, the price of US copper producer grade 102 increased by 1.7 percent, landing at $4.22 per pound. Following a steady week, prices for Korean copper strip closed flat at KRW 11,300 ($10.74) per kilogram.
Chinese copper prices were mixed for the week. Following a 0.8 percent increase, Chinese copper bar finished the week at CNY 52,140 ($8,589) per metric ton. A 0.8 percent gain landed the cash price of Chinese copper at CNY 52,340 ($8,622) per metric ton. The price of Chinese copper wire rose 0.4 percent this week, closing out the third week at CNY 51,200 ($8,434) per metric ton. Prices for Chinese bright copper scrap remained constant, closing the week at CNY 44,600 ($7,347) per metric ton.
The primary copper cash price rose 2.1 percent on the LME over the past week to $7,230 per metric ton. This was the third week in a row of increasing prices. At $7,214 per metric ton, the 3-month price of copper finished the week 1.8 percent higher on the LME.
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.