Current Copper Prices
The day’s biggest mover broke away from a static phase with a 4.9 percent jump on Tuesday, May 7 – after three changeless days, the price of Chinese bright copper scrap closed higher.
The price of Chinese copper bar finished the market day up 0.8 percent per metric ton. After a 0.8 percent increase, the cash price of Chinese copper finished the day up as well. Chinese copper wire finished the day up 0.8 percent.
Following a quiet couple of days, the Japanese copper cash price fell 3.5 percent on Tuesday. Following two days of rising prices, the price of US copper producer grade 122 dropped 0.3 percent. The price of US copper producer grade 110 changed direction with a 0.3 percent drop after two days of improving prices. Meanwhile, the price of US copper producer grade 102 declined 0.2 percent.
The copper 3-month price saw little price change on Tuesday on the LME at $7,150 per metric ton. Also on the LME, the cash price of primary copper held steady around $7,121 per metric ton.
Current Aluminum Prices
The day’s biggest mover – the price of Chinese aluminum scrap – broke away from a static phase with a 2.8 percent jump on Tuesday, May 7, after three changeless days.
The Chinese aluminum cash price rose 0.2 percent. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row. The price of Chinese aluminum billet showed little movement yesterday.
The cash price of primary Indian aluminum gained 1.3 percent.