The price of US copper producer grade 110 saw a one percent increase on June 20, 2012, making it the biggest mover for the day on our daily copper price index. The price of US copper producer grade 122 also finished the market day up one percent. US copper producer grade 102 prices increased 0.9 percent, while the cash price of primary Japanese copper held steady at above $8,000 per metric ton.
Chinese and LME copper prices, meanwhile, were generally up for the day.
Chinese copper wire finished the day up 0.3 percent. The price of Chinese copper bar has been on the rise for seven days and is now in the mid-$8,900s per metric ton. The cash price of Chinese copper has been on the rise for seven days and is now below $9,000 per metric ton. At under $7,400 per metric ton, the price of Chinese bright copper scrap was essentially unchanged.
On the LME, the cash price of primary copper inched up 0.4 percent to $7,505 per metric ton. After a 0.4 percent increase, the 3-month price of copper finished the day on the LME at $7,510 per metric ton.
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On May 2, 2012, the Japanese primary copper cash price fell by 0.6 percent, landing at JPY 709,000 ($8,841) per metric ton and making it the day’s biggest mover. For the seventh day in a row, the price of US copper producer grade 110 rose and is currently at $6.83 per pound. The price of US copper producer grade 102 has been on the rise for seven days and is now at $7.02 per pound. After a couple of days of improving prices, the price of US copper producer grade 122 held steady at $6.
Chinese copper prices were mixed for the day. The price of Chinese copper wire improved by 0.4 percent, closing at CNY 58,475 ($9,265) per metric ton on Wednesday. The price of Chinese copper bar moved up 0.4 percent, landing at CNY 59,380 ($9,408) per metric ton. The cash price of Chinese primary copper rose by 0.4 percent on the SHFE to CNY 59,580 ($9,440) yesterday after remaining flat for two days. The price of Chinese bright copper scrap remained essentially flat at CNY 50,050 ($7,930) per metric ton.
The 3-month price of primary copper on the LME has been on the rise for eight days and is now at $8,390 per metric ton. The primary copper cash price flattened at $8,528 after two days of improvement on the LME.
The week’s biggest mover on the Copper MMI® was the LME cash price of primary copper, which saw a 3.9 percent increase to $8,356 per metric ton. This comes on the heels of a 1.5 percent decline the week prior. The primary copper 3-month price rose 3.1 percent on the LME to $8,255 per metric ton after falling 1.4 percent during the previous week.
Prices for Chinese copper were up for the week. Chinese copper wire prices ticked up 1.2 percent. The cash price of Chinese primary copper shifted slightly on the SHFE, rising by 1.2 percent to close at CNY 59,350 ($9,436) per metric ton. The price of Chinese bright copper scrap rose 0.2 percent after falling 1.1 percent during the previous week.
The price of US copper producer grade 110 rose 2.1 percent, after falling 0.2 percent during the previous week. The US copper producer grade 102 price increased 2.1 percent, after losing 0.1 percent the week before. The cash price of Japanese primary copper rose two percent after falling one percent during the previous week. Korean copper strip prices held steady from the prior week at under $10 per kilogram.
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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