Japanese Copper Price Up
The cash price of Japanese primary copper gained 0.4 percent, closing at JPY 712,000 ($8,870) per metric ton on May 7, 2012. The price of US copper producer grade 122 dropped by 0.1 percent to $6 per pound after holding steady. The price of US copper producer grade 110 fell 0.1 percent to $6.72 per pound yesterday after two days of no change. The price of US copper producer grade 102 closed Monday at $6.91 per pound, halting its two-day flat run with a 0.1 percent decline.
The price of Chinese copper bar remained steady at CNY 59,120 ($9,375) 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 CNY 50,600 ($8,023) 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 broke away from a static phase with a 0.3 percent jump up on May 7, 2012 — after three changeless days, the price of Chinese aluminum billet closed at CNY 16,200 ($2,568) per metric ton.
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 around CNY 14,050 ($2,227) 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 around CNY 16,650 ($2,640) 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 $2,088 per metric ton.