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 to $6.81 per pound. After a 0.7 percent increase, the US copper producer grade 102 price finished the day at $7.00 per pound. The Japanese primary copper cash price showed little movement yesterday, hovering around JPY 703,000 ($8,711) 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 at CNY 58,225 ($9,257) after two days of improvement. The price of Chinese bright copper scrap showed little movement yesterday at CNY 50,050 ($7,958) 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 to INR 108.05 ($2.06) per kilogram, after two days of improvement.

Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap was unchanged at CNY 16,650 ($2,647) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,559) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,050 ($2,233) 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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