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, reaching INR 108.95 ($2.07) per kilogram and 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 CNY 16,650 ($2,647) per metric ton. The Chinese aluminum billet price was unchanged at CNY 16,100 ($2,559) per metric ton. Chinese aluminum bar saw essentially no change in its price for the fifth day in a row, remaining around CNY 14,050 ($2,233) 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 to close at $6.76 per pound on April 27, 2012. The price of US copper producer grade 102 increased 0.9 percent to $6.95 per pound. The cash price of Japanese primary copper improved by 0.7 percent, closing at JPY 703,000 ($8,711) per metric ton 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 to CNY 58,225 ($9,257) per metric ton. Chinese bright copper scrap saw little change in its price last Friday at CNY 50,050 ($7,958) 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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