Copper MMI®: Increase of 2.2% for Price of US Copper Producer Grade 122

US copper producer grade 122 price saw the largest upwards shift on the weekly Copper MMI®, rising 2.2 percent to settle at $4.13 per pound. The price of US copper producer grade 110 shifted up 2.2 percent to close at $4.13 per pound this week. Last week, the price of US copper producer grade 102 shifted slightly, rising by 2.1 percent to close at $4.32 per pound. Closing at KRW 11,300 ($10.76) per kilogram, Korean copper strip remained unchanged for the week. The cash price of primary Japanese copper stayed essentially flat at JPY 795,000 ($7,582) per metric ton.

Prices for Chinese copper were up for the week. The price of Chinese bright copper scrap rose 1.7 percent to CNY 43,470 ($7,184) per metric ton after falling 4.2 percent during the previous week. Chinese copper wire prices ticked up 1.2 percent over the past week to CNY 52,475 ($8,672) per metric ton. In the past week, Chinese copper bar saw its price shift up 0.4 percent to CNY 53,020 ($8,762) per metric ton. The cash price of Chinese copper settled at CNY 53,220 ($8,795) per metric ton this week after shifting up 0.4 percent.

Closing out the third week of rising prices, the primary copper cash price increased by 1.6 percent on the LME, landing at $7,394 per metric ton. The copper 3-month price rose 1.4 percent on the LME this week, closing out the third week at $7,370 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.