The week’s biggest mover on the weekly Copper MMI® was the Japanese copper cash price, which saw a 2.3 percent increase. This comes on the heels of a 1.6 percent decline the week prior. The price of US copper producer grade 122 shifted up 1.8 percent to close this week. The price of US copper producer grade 110 rose 1.8 percent over the past week. Last week, the price of US copper producer grade 102 increased by a slight 1.7 percent. The price of Korean copper strip did not change since the previous week.
Chinese copper prices were mixed for the week. Chinese copper wire saw a 0.5 percent decline over the past week. Prices for Chinese copper bar remained constant, closing the week. The Chinese copper cash price remained unchanged for the week. Chinese bright copper scrap prices held steady from the previous week.
The copper 3-month price rose 0.8 percent on the LME to $7,118 per metric ton after falling 0.8 percent during the previous week. The primary copper cash price rose 0.7 percent on the LME to $7,155 per metric ton after falling 0.6 percent during the previous week.
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.