Copper MMI®: US Copper Producer Grade 122 Price Falls 1.9% for the Week

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Metal Prices
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 to $4.05 per pound. 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 to $4.05 per pound 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 to $4.24 per pound. The cash price of primary Japanese copper rose 1.8 percent over the past week to JPY 809,000 ($7,716) per metric ton. Korean copper strip traded sideways last week, hovering around KRW 11,300 ($10.63) per kilogram.

Chinese copper prices were down for the week. The price of Chinese copper wire fell 1.1 percent to CNY 51,875 ($8,569) per metric ton 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 to CNY 52,430 ($8,661) per metric ton. The Chinese copper cash price fell 1.1 percent to CNY 52,630 ($8,694) per metric ton 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 to CNY 43,220 ($7,139) per metric ton.

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.

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