Base Metals Roundup: LME Copper Price Down, China Aluminum Scrap Up

Current Copper Prices

The day’s biggest mover was the copper cash price which dropped by 2.1 percent on Wednesday, May 15 to close at $7,195 per metric ton on the LME. The 3-month price of copper saw a 2.1 percent decline on the LME to $7,225 per metric ton.

The price of US copper producer grade 122 declined 1.7 percent. The price of US copper producer grade 110 weakened by 1.7 percent as well. The price of US copper producer grade 102 fell 1.7 percent. The Japanese copper cash price rose 0.1 percent.

today's metal prices - MetalMiner IndXPrices of Chinese copper were down across the board on Wednesday. The price of Chinese copper bar fell 1.5 percent. The cash price of Chinese copper weakened by 1.5 percent. Chinese copper wire fell 1.2 percent in price. This marks the fifth day in a row of declining prices and the drop-off has accelerated since Thursday, May 9. Chinese bright copper scrap finished the day down 0.2 percent.

Current Aluminum Prices

The cash price of primary Indian aluminum experienced the biggest price decline of the day, dropping 1.1 percent on Wednesday, May 15.

The aluminum 3-month price saw a 0.2 percent decline on the LME to $1,852 per metric ton. The primary aluminum cash price weakened by 0.1 percent on the LME, settling at $1,825 per metric ton.

Chinese aluminum closed mixed on Wednesday. After a 0.4 percent increase, Chinese aluminum scrap finished the day up. After two changeless days, the Chinese aluminum cash price fell 0.1 percent. The price of Chinese aluminum billet remained steady. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat.

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