US Copper Producer Grade 110 Down 0.2 Percent
On April 12, 2012, the day’s biggest mover in copper prices was US copper producer grade 110, which saw a 0.2 percent decline. US copper producer grade 102 has been on the decline for seven days and is below $7 per pound. Following two days of dropping prices on the LME, the cash price of Japanese primary copper flattened out at JPY 676,000 ($8,359).
Chinese copper prices closed flat for the day. Following a two-day drop on the SHFE, the cash price of copper held steady at CNY 58,950 ($9,355). The price of Chinese copper wire flattened after falling for two days. The price of Chinese bright copper scrap remained essentially flat as well.
On the LME, the 3-month price of primary copper remained essentially flat at $8,090 per metric ton. The cash price of primary copper showed little movement yesterday on the LME at $8,115 per metric ton.
Aluminum Markets Flat
The cash price of primary aluminum remained essentially flat on the LME at $2,036 per metric ton. The 3-month price of primary aluminum held steady yesterday on the LME, remaining around $2,074 per metric ton.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap held steady, as did the price of Chinese aluminum billet. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat as well. The cash price of Chinese primary aluminum saw no price change on the SHFE at CNY 16,000 ($2,539) per metric ton.
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