The week’s biggest mover on the weekly Copper MMI® was the price of US copper producer grade 122, which saw a 1.9 percent decline. This comes on the heels of a 2.2 percent increase the week before. The price of US copper producer grade 110 fell 1.9 percent after rising 2.2 percent the week before. Following a 2.1 percent increase in the week prior, the price of US copper producer grade 102 fell 1.9 percent last week. The cash price of primary Japanese copper rose 1.8 percent over the past week. Korean copper strip traded sideways last week.
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Chinese copper prices were down for the week. The price of Chinese copper wire fell 1.1 percent after rising 1.2 percent the week before. Following a 0.4 percent increase in the week prior, the price of Chinese copper bar fell 1.1 percent last week. The Chinese copper cash price fell 1.1 percent after rising 0.4 percent the week before. Following a 1.7 percent increase in the week prior, the price of Chinese bright copper scrap fell 0.6 percent last week.
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The cash price of primary copper fell 1.5 percent on the LME to $7,281 per metric ton after rising 1.6 percent the week before. Following a 1.4 percent increase in the week prior, the 3-month price of copper fell 1.5 percent on the LME last week to $7,263 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.