Closing at $8,140 per metric ton on the LME, a 3.4 percent increase made the 3-month price of copper the week’s biggest mover on the weekly Copper MMI®.
Also on the LME, the primary copper cash price spiked 3.4 percent last week to $8,166 per metric ton.
Prices for Chinese copper were up for the week. Following a 1.3 percent increase, Chinese copper bar finished the week up. The cash price of Chinese copper rose 1.3 percent over the past week as well. Chinese copper wire prices ticked up 1.1 percent, while the price of Chinese bright copper scrap rose 0.4 percent after falling 1 percent during the previous week.
The price of US copper producer grade 102 rose 1.1 percent after falling 1.6 percent during the previous week. The price of US copper producer grade 122 fell 0.2 percent over the past week. This was the third week in a row of declining prices.The price of US copper producer grade 110 finished the week down 0.2 percent.
Prices for Korean copper strip remained constant, and the Japanese copper cash price remained unchanged for the 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.