Daily Base Metals Roundup – LME Copper, Aluminum Prices Gain

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Copper Market Price Trends – April 30, 2012

Primary copper cash prices saw the biggest upwards shift for the day, rising one percent on the LME to close at $8,443 per metric ton on April 30, 2012. Also on the LME, primary copper 3-month prices increased 0.8 percent to $8,322 per metric ton.

US copper producer grade 110 prices inched up 0.7 percent, as did the US copper producer grade 102 price. The Japanese primary copper cash price showed little movement yesterday, hovering around $8,700 per metric ton.

Chinese copper prices were flat for the day. The Chinese primary copper cash price steadied at CNY 59,350 ($9,436) on the SHFE per metric ton. The price of Chinese copper wire flattened above $9,200 after two days of improvement. The price of Chinese bright copper scrap showed little movement yesterday, holding steady below $8,000 per metric ton.

Aluminum Market Price Trends – April 30, 2012

On April 30, 2012, LME primary aluminum cash prices experienced the biggest change, rising 1.4 percent to $2,068 per metric ton. On the LME, the 3-month price of primary aluminum rose 1.4 percent to $2,109 per metric ton. The cash price of Indian primary aluminum declined 0.8 percent, after two days of improvement.

Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap was unchanged above $2,600 per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining just below $2,600 per metric ton. The price of Chinese aluminum bar saw little movement at above $2,200 per metric ton. On the SHFE, Chinese primary aluminum cash prices remained essentially flat at CNY 16,080 ($2,556) per metric ton.

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