Copper Prices Weaken
The copper 3-month price saw a 1.6 percent drop on the LME on Oct. 24, 2012, landing at $7,860 per metric ton and making it the biggest mover of the day on MetalMiner’s copper price index. Also on the LME, the cash price of primary copper declined 1.5 percent to $7,860 per metric ton.
The price of US copper producer grade 122 weakened by 1.2 percent, and grade 110 also declined 1.2 percent. The price of US copper producer grade 102 fell 1.1 percent on the day.
The Japanese copper cash price saw little movement.
Chinese copper wire prices saw a 0.9 percent decline. Chinese copper bar ended with a 0.9 percent drop on Wednesday as well.
The Chinese copper cash price dropped 0.9 percent, and Chinese bright copper scrap held its value yesterday.
LME Aluminum Prices Drop
Dropping 1.1 percent on the LME, the aluminum 3-month price was the biggest mover on Oct. 24, 2012, closing at $1,941 per metric ton. The LME primary aluminum cash price declined 1 percent to $1,913 per metric ton.
The cash price of primary Indian aluminum fell 0.3 percent.
For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat; so did Chinese aluminum billet, aluminum bar and the China aluminum cash price.