Dr. Copper Rises
The LME copper cash price rose 0.8 percent on Nov. 7, 2012, making it the day’s biggest mover on MetalMiner’s price index. After two days of falling prices on the LME, it closed at $7,670 per metric ton. Following a 0.7 percent rise on Wednesday, the copper 3-month price closed on the LME at $7,660 per metric ton.
Chinese copper bar prices inched up 0.6 percent. The cash price of Chinese copper rose 0.6 percent as well. The price of Chinese copper wire finished the market day up 0.4 percent per metric ton. Chinese bright copper scrap stayed flat.
Aluminum Prices Generally Quiet
The 3-month price of LME aluminum saw a 0.2 percent increase on Nov. 7, 2012, reaching $1,913 per metric ton and making it the biggest mover for the day. At $1,886, the cash price of primary aluminum finished the market day on the LME up 0.2 percent per metric ton.