Base Metals Price Update: LME Aluminum Lower, China Copper Slips

Current Aluminum Prices

The 3-month price of aluminum experienced the biggest price decline on the daily metal price service, dropping 2.9 percent on the LME to close at $2,040 per metric ton on Jan. 16, 2013. The cash price of primary aluminum weakened by 2.9 percent on the LME, settling at $2,002 per metric ton.

The cash price of primary Indian aluminum is back up, rising by 1.1 percent on Wednesday.

Chinese aluminum closed mixed yesterday. Chinese aluminum billet ended the day after a 0.3 percent drop yesterday. Following a 0.2 percent rise yesterday, the Chinese aluminum cash price closed up.

The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat.

Current Copper Prices

Dropping 1.2 percent on the LME, the cash price of primary copper was the biggest mover on Jan. 16, 2013, closing at $7,970 per metric ton. The 3-month price of copper weakened by 1.1 percent on the LME, settling at $7,944 per metric ton.

After a 0.2 percent increase, the prices of US copper producer grades 102, 110 and 122 finished the day up on the MetalMiner IndX℠.

The Japanese copper cash price was unchanged.

Chinese copper prices were mixed for the day. Chinese copper bar prices saw a 0.1 percent decline. The cash price of Chinese copper saw a 0.1 percent decline as well.

After dropping for two days, the price of Chinese copper wire flattened. The price of Chinese bright copper scrap continues hovering in place for the fifth day in a row.