Base Metals Roundup: China Aluminum Scrap, Copper Wire Prices Drop

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Current Aluminum Price

Chinese aluminum scrap saw the biggest price decline of the day, dropping 1.4 percent on March 7, 2013.

After a 0.4 percent increase, the cash price of Chinese aluminum finished the day up. Chinese aluminum billet prices rose 0.3 percent. The price of Chinese aluminum bar continues hovering in place for the fifth day in a row.

The cash price of primary Indian aluminum weakened by 0.9 percent.

After improving for two days, the cash price of primary aluminum declined 0.8 percent on the LME to $1,927 per metric ton. The 3-month price of aluminum closed at $1,969 per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.8 percent on the LME.

Current Copper Price

On March 7, 2013, the day’s biggest mover was the price of Chinese copper wire, which saw a 0.7 percent decline. The price of Chinese copper bar changed direction with a 0.6 percent drop. The cash price of Chinese copper fell by 0.6 percent. Chinese bright copper scrap fell 0.6 percent yesterday.

today's metal prices - MetalMiner IndXThe prices of US copper producer grades 102, 110 and 122 fell 0.5 percent. The Japanese copper cash price saw little movement.

The cash price of primary copper saw a 0.3 percent decline on the LME to $7,699 per metric ton. Also on the LME, the 3-month price of copper declined 0.1 percent to $7,733 per metric ton.