Copper Price Round-Up: Chinese Bright Copper Scrap Down 4.2%

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After drifting 4.2 percent, Chinese bright copper scrap dropped, making it the biggest mover on the weekly Copper MMI® this week. The price of Chinese copper bar rose 1.4 percent after falling 0.2 percent during the previous week. The Chinese copper cash price rose 1.4 percent after falling 0.2 percent during the previous week. Chinese copper wire rose by a slight 1.3 percent.

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Closing out the third week of rising prices, the cash price of primary Japanese copper increased by 0.3 percent. The price of US copper producer grade 122 remained unchanged for the week. The price of Korean copper strip did not change since the previous week. The price of US copper producer grade 102 stayed essentially flat. Following a steady week, prices for the price of US copper producer grade 110 closed flat.

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The cash price of primary copper rose 0.8 percent on the LME to $7,278 per metric ton after falling 0.2 percent during the previous week. The 3-month price of copper rose 0.8 percent on the LME over the past week to $7,271 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.