Daily Base Metals Roundup: Indian Aluminum Cash Price Keeps Rising

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The Global Aluminum Market – April 27, 2012

Indian primary aluminum saw a 1.6 percent increase on April 27, 2012, making it the biggest upwards shift of the day. At $2,040 per metric ton, the cash price of primary aluminum reversed its two-day flat trend on the LME. Also on the LME, primary aluminum 3-month prices were steady at $2,080 per metric ton.

Chinese aluminum prices balanced out for the day. The price of Chinese aluminum scrap held steady at below $2,650 per metric ton. The Chinese aluminum billet price was unchanged, holding at roughly the same range. Chinese aluminum bar saw essentially no change in its price for the fifth day in a row, remaining around $2,200 per metric ton. On the SHFE, Chinese primary aluminum cash prices saw little movement last Friday at CNY 16,080 ($2,556) per metric ton.

The Global Copper Market – April 27, 2012

US copper producer grade 110 saw the biggest upwards price shift for the day, rising 0.9 percent on April 27, 2012. The price of US copper producer grade 102 increased 0.9 percent. The cash price of Japanese primary copper improved by 0.7 percent last Friday.

Chinese copper closed mixed last Friday. After a 0.8 percent increase, the SHFE cash price of Chinese primary copper finished the day at CNY 59,350 ($9,436) per metric ton. Chinese copper wire saw its price rise 0.7 percent. Chinese bright copper scrap saw little change in its price last Friday, keeping at under $8,000 per metric ton.

The primary copper cash price on the LME has been on the rise for seven days and is now at $8,356 per metric ton. Also on the LME, primary copper 3-month prices rose 0.7 percent to $8,255 per metric ton.

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