Copper, Aluminum Markets Down As Producer Prices Dip

by MetalMiner IndX Reports on

US Producer, China Copper Prices Down

The prices of US copper producer grades 110 and 122 experienced the biggest price declines of the day on MetalMiner’s copper price index, dropping 2.3 percent on Oct. 22, 2012. The price of US copper producer grade 102 fell 2.2 percent.

For the fifth day in a row, the Japanese copper cash price remained essentially flat.

Chinese copper closed mixed on Monday. Chinese copper wire prices saw a 1.8 percent decline. Chinese copper bar finished the day down 1.6 percent, and the cash price of Chinese copper also weakened by 1.6 percent. The price of Chinese bright copper scrap continues hovering in place for the fifth day in a row.

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On the LME, the copper 3-month price declined 1.1 percent to $8,124 per metric ton. The primary copper cash price weakened by 1.1 percent on the LME, settling at $8,120 per metric ton.

Primary and Scrap Aluminum Price

The cash price of primary Indian aluminum fell 2.3 percent on Oct. 22, 2012, making it the day’s biggest mover on our aluminum price index.

On the LME, the primary aluminum cash price rose 0.3 percent to $1,976 per metric ton. After a 0.1 percent increase, the 3-month price of aluminum finished the day on the LME at $2,000 per metric ton.

The cash price of Chinese aluminum changed direction with a 0.3 percent drop. Chinese aluminum scrap saw essentially no change for the fifth day in a row.

The price of Chinese aluminum billet remained steady as well, and for the fifth consecutive day, the price of Chinese aluminum bar held flat.

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