Copper Price Round-Up: Chinese Copper Wire Down for Third Straight Week

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The week’s biggest mover on the weekly Copper MMI® was the price of Chinese copper wire, which saw a 2.7 percent decline. This week marked the third in a row of declining prices for the metal. The price of Chinese copper bar dropped 2.5 percent this week, closing out the third consecutive week of falling prices. For the third week in a row, the Chinese copper cash price dropped, falling 2.4 percent. The price of Chinese bright copper scrap did not change since the previous week.

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Following a 0.3 percent increase in the week prior, the Japanese copper cash price fell 1.7 percent last week. The price of US copper producer grade 122 fell 1.5 percent last week. The price of US copper producer grade 110 saw a 1.5 percent drop this week. The price of US copper producer grade 102 fell 1.4 percent for the week to settle. The week finished with no movement for Korean copper strip.

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The 3-month price of copper fell 0.8 percent on the LME to $7,076 per metric ton after rising 0.2 percent the week before. Following a 0.4 percent increase in the week prior, the primary copper cash price fell 0.5 percent on the LME last week to $7,149 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.