Base Metals Update: LME Price of Copper Improves, China Aluminum Up

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Current Copper Prices

At $7,490 per metric ton, the copper cash price moved up 1.6 percent on April 9, 2013, making it the day’s biggest mover on the LME. Also on the LME, the 3-month price of copper gained 0.6 percent to finish at $7,457 per metric ton.

After a 0.8 percent increase, the price of US copper producer grade 122 finished the day up. The price of US copper producer grade 110 rose 0.8 percent. The price of US copper producer grade 102 finished the market day up 0.7 percent per pound. For the fifth consecutive day, the cash price of primary Japanese copper held flat.

Chinese copper closed mixed on Tuesday. Chinese copper wire saw its price rise 1.1 percent. After a 1.0 percent increase, Chinese copper bar finished the day at up. The Chinese copper cash price rose 0.9 percent. The price of Chinese bright copper scrap remained essentially flat.

Current Aluminum Prices

On April 9, 2013, the aluminum 3-month price experienced the biggest change, rising 1.3 percent on the LME to $1,899 per metric ton. The primary aluminum cash price rose 1.1 percent on the LME to $1,865 per metric ton. Today marked the fifth in a row of increasing prices and the improvement has accelerated since April 3.

The cash price of primary Indian aluminum declined 0.8 percent, after two days of improvement.

Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price gained 0.4 percent. Chinese aluminum billet prices rose 0.3 percent. The price of Chinese aluminum scrap continues hovering in place for the fifth day in a row. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat.