Base Metal Roundup: LME Aluminum Slides, Copper Producer Prices Up

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The aluminum 3-month price experienced the biggest price decline of the day on MetalMiner’s daily index, dropping 4.5 percent on the LME to close at $1,805 per metric ton on Monday, August 19. Also on the LME, the primary aluminum cash price fell 3.6 percent to $1,775 per metric ton.

The Indian aluminum cash price rose 0.6 percent.

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Chinese aluminum closed mixed on Monday. The Chinese aluminum cash price rose 0.3 percent, while the prices of Chinese aluminum scrap, billet and bar remained essentially flat.

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Today’s Copper Outlook

On Monday, August 19, the day’s biggest mover was the copper 3-month price, which saw a 1.7 percent increase on the LME to $7,374 per metric ton. This increase comes after the price fell for the two previous days. The cash price of primary copper is back up, rising by 1.5 percent on the LME on Monday to close at $7,335 per metric ton.

The price of US copper producer grade 122 rose 0.8 percent. The price of US copper producer grade 102 increased 0.7 percent. The cash price of primary Japanese copper flattened after two days of improvement.

Chinese copper wire saw its price rise 0.1 percent. Following a two-day rise, the price of Chinese copper bar flattened. After a couple of days of improving prices, the cash price of Chinese copper held steady. For the fifth consecutive day, the price of Chinese bright copper scrap held flat.

FREE Download: The Monthly MMI® Report – covering the Copper market.