The week’s biggest mover on the weekly Copper MMI® was the cash price of Japanese copper, which saw a 2.2 percent increase to JPY 793,000 ($7,603) per metric ton. Last week, the price of US copper producer grade 122 increased by a slight 0.2 percent to $4.04 per pound. The price of US copper producer grade 110 shifted up 0.2 percent to close at $4.04 per pound this week. The price of US copper producer grade 102 rose 0.2 percent over the past week to $4.23 per pound. Korean copper strip remained essentially flat from the previous week at KRW 11,300 ($10.74) per kilogram.
Chinese copper prices were mixed for the week. Following a 0.8 percent increase in the week prior, the price of Chinese copper bar fell 0.2 percent last week to CNY 52,050 ($8,573) per metric ton. The Chinese copper cash price fell 0.2 percent to CNY 52,250 ($8,606) per metric ton after rising 0.8 percent the week before. Following a steady week, prices for Chinese copper wire closed flat at CNY 51,175 ($8,429) per metric ton. At CNY 44,600 ($7,346) per metric ton, the price of Chinese bright copper scrap did not change since the previous week.
Following a 2.1 percent increase in the week prior, the primary copper cash price fell 0.2 percent on the LME last week to $7,218 per metric ton. This past week, the copper 3-month price kept quiet, holding at on the LME at $7,217 per metric ton.
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.