Via Business Wire: “Global Brass and Copper Holdings…today announced the pricing of its initial public offering in the United States of 7,000,000 shares of its common stock at a price of $11.00 per share,” approved for listing on the NYSE.
The company’s “products include a wide range of sheet, strip, foil, rod, tube and fabricated metal component products that it sells under the Olin Brass, Chase Brass and A.J. Oster brand names.”
Current Copper Prices:
On Wednesday, May 22, the 3-month price of copper experienced the biggest change, rising 1.8 percent on the LME to $7,408 per metric ton. Also on the LME, the cash price of primary copper increased 1.2 percent to $7,383 per metric ton.
The price of US copper producer grade 122 closed lower; following a couple days of improvement, prices fell by 0.5 percent. After improving for two days, the price of US copper producer grade 110 declined 0.5 percent as well. Following a couple days of improvement, the price of US copper producer grade 102 weakened by 0.5 percent.
Following a two-day rise, the Japanese copper cash price flattened.
Chinese copper closed mixed yesterday. Weakening prices followed two days of improvement as the price of Chinese copper wire dropped 0.1 percent. The price of Chinese copper bar changed direction with a 0.1 percent drop. After two days of improving prices, the metal finished lower. The Chinese copper cash price declined 0.1 percent, after two days of improvement. For the fifth day in a row, the price of Chinese bright copper scrap remained essentially flat.