Base Metals Roundup: Chinese Copper Bar Price Drops, Aluminum Hovers

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Current Copper Prices

The price of Chinese copper bar fell 0.8 percent on March 22, 2013, making it the day’s biggest mover. Weakening prices followed two days of improvement as the cash price of Chinese copper dropped 0.8 percent. The price of Chinese copper wire declined 0.8 percent. The price of Chinese bright copper scrap gained 0.6 percent.

The price of US copper producer grade 122 weakened by 0.2 percent. The price of US copper producer grade 110 saw a 0.2 percent decline. The price of US copper producer grade 102 fell 0.2 percent as well. The Japanese copper cash price saw essentially no change for the fifth day in a row.

On the LME, the 3-month price of copper rose 0.3 percent to $7,626 per metric ton. Also on the LME, the primary copper cash price showed little movement last Friday, hovering around $7,575 per metric ton.

Current Aluminum Prices

On March 22, 2013, the day’s biggest mover was the Indian aluminum cash price, which saw a 0.3 percent increase.

On the LME, the aluminum 3-month price declined 0.3 percent to $1,936 per metric ton. The primary aluminum cash price changed direction with a 0.2 percent drop. After two days of improving prices, the metal finished at $1,901 per metric ton on the LME.

Chinese aluminum closed mixed last Friday. The cash price of Chinese aluminum weakened by 0.1 percent. The price of Chinese aluminum scrap held steady. The price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row.