Daily Copper and Aluminum Price Roundup: May 8, 2012

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Japanese Copper Price Up

The cash price of Japanese primary copper gained 0.4 percent on May 7, 2012. The price of US copper producer grade 122 dropped by 0.1 percent, after holding steady. The price of US copper producer grade 110 fell 0.1 percent yesterday after two days of no change. The price of US copper producer grade 102 halted its two-day flat run with a 0.1 percent decline.

The price of Chinese copper bar remained steady, under $9,400 per metric ton. On the SHFE, the Chinese primary copper cash price showed little movement yesterday, hovering around CNY 59,320 ($9,406) per metric ton. The price of Chinese bright copper scrap remained essentially flat at just above $8,000 per metric ton.

After two changeless days, the 3-month price of primary copper fell 0.4 percent on the LME to $8,225 per metric ton. Following a quiet couple of days on the LME, the primary copper cash price fell 0.3 percent on Monday to $8,296 per metric ton.

Chinese Aluminum Billet Price Improves

The day’s biggest mover on the aluminum markets — Chinese aluminum billet — broke away from a static phase with a 0.3 percent jump up on May 7, 2012, after three changeless days.

The cash price of Chinese primary aluminum saw little movement yesterday on the SHFE, closing out around CNY 16,170 ($2,564) per metric ton. The price of Chinese aluminum bar continues hovering above $2,200 per metric ton for the fifth day in a row. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining in the mid-$2,600s per metric ton.

The cash price of primary aluminum held steady yesterday on the LME, remaining around $2,048 per metric ton. The cash price of Indian primary aluminum remained essentially flat at INR 110.00 ($2.06) per kilogram. Also on the LME, the primary aluminum 3-month price saw little movement yesterday at below $2,100 per metric ton.

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