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The cash price of primary aluminum saw the biggest shift of the day, dropping 1.9 percent on the LME to close at $1,987 per metric ton on May 10, 2012. Also on the LME, the 3-month price of primary aluminum declined 1.8 percent to $2,026 per metric ton. Indian primary aluminum cash price inched up 1.2 percent to INR 107.45 ($1.99) per kilogram.

Chinese aluminum closed mixed on Thursday. On the SHFE, the cash price of Chinese primary aluminum fell 0.1 percent to CNY 16,100 ($2,551) per metric ton. The price of Chinese aluminum scrap continues hovering around CNY 16,650 ($2,638) per metric ton for the fifth day in a row. The price of Chinese aluminum billet remained essentially flat at CNY 16,100 ($2,551) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,226) per metric ton.

On May 10, 2012, the day’s biggest mover was the primary copper 3-month price, which saw a two percent decline on the LME to $7,970 per metric ton. At $8,089 per metric ton, primary cash copper fell 1.8 percent on the LME yesterday.

The Japanese primary copper cash price declined 0.7 percent to JPY 680,000 ($8,550) per metric ton. The price of US copper producer grade 122 saw a 0.3 percent decline to $6 per pound. The price of US copper producer grade 110 fell 0.3 percent to $6.66 per pound. The price of US copper producer grade 102 weakened by 0.3 percent, settling at $6.85 per pound.

Chinese copper closed mixed on Thursday. The price of Chinese copper wire rose by 0.2 percent to CNY 57,850 ($9,166) per metric ton. At CNY 58,620 ($9,288), the price of Chinese copper bar finished the market day up 0.2 percent per metric ton. On the SHFE, the cash price of Chinese primary copper inched up 0.2 percent to CNY 58,820 ($9,320) per metric ton. The price of Chinese bright copper scrap remained steady at CNY 50,500 ($8,002) per metric ton.

After drifting three percent on the LME, the primary aluminum cash price dropped to $1,987 per metric ton making it the biggest mover on the Aluminum MMI℠ this week. Aluminum 3-month fell 2.9 percent on the LME for the week to settle at $2,026 per metric ton. Indian primary aluminum cash price fell 2.3 percent to INR 107.45 ($1.99) per kilogram after rising 1.8 percent the week before.

Chinese aluminum prices were mixed for the week. Following a 0.6 percent increase in the week prior, Chinese primary aluminum cash price fell 0.4 percent on the SHFE last week to CNY 16,100 ($2,551) per metric ton. The price of Chinese aluminum billet fell 0.3 percent to CNY 16,100 ($2,551) per metric ton after rising 0.3 percent the week before. At CNY 14,050 ($2,226) per metric ton, the week finished with no movement for Chinese aluminum bar.

Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3) per kilogram. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($3) per kilogram. Closing at EUR 3,004 ($3,944) per metric ton, European 5083 plate remained unchanged for the week. At EUR 2,327 ($3,055) per metric ton, the price of European 1050 aluminum did not change since the previous week.

The Aluminum MMI℠ collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI℠, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

The nickel 3-month price saw the biggest shift of the day, dropping 2.3 percent on the LME to close at $17,070 per metric ton on May 10, 2012. The price of primary nickel weakened by 2.2 percent on the LME, settling at $17,030 per metric ton. Following a two-day drop, the cash price of Indian primary nickel increased by 1.2 percent to INR 920 ($17) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,315) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($22,976) per metric ton.

The price of Chinese 304 stainless coil moved on Thursday. After a few changeless days, prices dropped 0.5 percent to CNY 18,600 ($2,947) per metric ton. After three straight days of no change, the price of Chinese 304 stainless steel scrap decreased by 0.5 percent to CNY 18,600 ($2,947) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 31,500 ($4,991) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 18,400 ($2,915) per metric ton. The price of Chinese primary nickel saw little movement on Thursday, closing out around CNY 130,800 ($20,726) per metric ton.

A 2.9 percent increase made the steel billet cash price the week’s biggest mover on the Raw Steels MMI®, closing at $489 per metric ton on the LME. (The cash price of LME steel billet saw a 1.9 percent increase on May 9, 2012.) The 3-month price of steel billet fell two percent on the LME to $480 per metric ton after rising 2.1 percent the week before.

Chinese steel and raw material prices were mixed for the week. The price of iron ore 58% fines from India hit a low price of CNY 855 ($135) and a high price of CNY 865 ($137) per dry metric ton. After a 1.4 percent decline, Chinese HRC closed out the week at CNY 4,230 ($672) per metric ton. At CNY 1,780 ($282) per metric ton, the price of Chinese coking coal did not change since the previous week. Closing out the third week of declining prices, the price of Chinese slab dropped by 0.2 percent, finishing at CNY 4,350 ($691) per metric ton.

The US HRC futures contract spot price closed last week at $665 per short ton, after a 2.9 percent drop. The price of US shredded scrap fell 0.5 percent over the past week to $433 per short ton. This was the third week in a row of declining prices. The 3-month price of US HRC futures closed at $670 per short ton after a flat week.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Japanese palladium bar saw the biggest price shift of the day, dropping 5.2 percent to close at JPY 1,581 ($19) per gram on May 9, 2012. Chinese palladium bar was down 3.2 percent from the previous market day, closing at CNY 152.00 ($24.15) per gram. US palladium bar has been on the decline for seven days and is now at $614.00 per ounce.

Japanese platinum bar closed 1.8 percent lower at JPY 3,859 ($48) per gram. Chinese platinum bar finished the day down 0.9 percent to CNY 326.00 ($51.80) per gram. The price of US platinum bar declined 0.1 percent to $1,501 per ounce.

At JPY 4,094 ($51) per gram, Japanese gold bullion fell 2.7 percent on Wednesday. The price of Chinese gold bullion dropped by 2.6 percent to CNY 324.50 ($51.56) per gram after holding steady. The price of Indian gold bullion declined 1.4 percent to INR 28,540 ($537) per 10 grams. US gold bullion closed one percent lower at $1,586 per ounce.

Japanese silver took a large hit on on Wednesday, sliding down three percent before landing at JPY 743.00 ($9.30) per 10 grams. For the seventh day in a row, the price of Chinese silver fell and is currently at CNY 6,220 ($988) per kilogram. Indian silver finished the day down 1.7 percent to INR 53,304 ($1,003) per kilogram. US silver has been on the decline for seven days and is now at $28.91 per ounce.

US copper producer grade 110 prices saw the biggest shift of the day on copper markets, dropping 1.3 percent to close at $6.68 per pound on May 9, 2012. The price of US copper producer grade 122 also weakened by 1.3 percent, settling at $6 per pound. The price of US copper producer grade 102 declined 1.3 percent to $6.87 per pound. The Japanese primary copper cash price remained essentially flat at JPY 685,000 ($8,578) per metric ton.

Chinese copper prices were down for the day. At CNY 58,530 ($9,300) per metric ton, Chinese copper bar fell 0.6 percent yesterday. The cash price of Chinese primary copper saw a 0.6 percent decline on the SHFE to CNY 58,730 ($9,332) per metric ton. Chinese copper wire prices saw a 0.5 percent decline to CNY 57,740 ($9,174) per metric ton. Following a quiet couple of days, the price of Chinese bright copper scrap fell 0.2 percent on Wednesday to CNY 50,500 ($8,024) per metric ton.

On the LME, the 3-month price of primary copper fell 1.1 percent to $8,132 per metric ton. The primary copper cash price saw a 0.7 percent decline on the LME to $8,234 per metric ton.

The cash price of steel billet saw a 1.9 percent increase on May 9, 2012, reaching $489 per metric ton on the LME and making it the biggest mover for the day. After two changeless days, the steel billet 3-month price fell one percent on the LME to $480 per metric ton.

Chinese steel closed mixed on Wednesday. The price of iron ore 58% fines from India hit a low price of CNY 855 ($135) and a high price of CNY 865 ($137) per dry metric ton. Chinese HRC ended the day at CNY 4,230 ($672) per metric ton, after the 0.5 percent drop on Wednesday. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,780 ($282) per metric ton.

The US HRC futures contract 3-month price remained essentially flat at $670 per short ton. The US HRC futures contract spot price showed little movement yesterday, hovering around $665 per short ton.

On May 9, 2012, the day’s biggest mover was the 3-month price of primary aluminum, which saw a 1.2 percent decline on the LME to $2,063 per metric ton. The cash price of primary aluminum fell 1.1 percent to $2,026 per metric ton yesterday on the LME after two days of no change. The cash price of Indian primary aluminum fell 0.8 percent to INR 106.20 ($2.00) per kilogram.

Chinese aluminum prices were mixed for the day. The price of Chinese aluminum billet fell 0.3 percent to CNY 16,100 ($2,558) per metric ton. Wednesday saw Chinese primary aluminum cash price drift down 0.3 percent on the SHFE to CNY 16,120 ($2,561) per metric ton after a couple of stagnant days. The price of Chinese aluminum scrap continues hovering around CNY 16,650 ($2,645) per metric ton for the fifth day in a row. The price of Chinese aluminum bar held steady at CNY 14,050 ($2,232) per metric ton.

The day’s biggest mover on stainless and raw material inputs markets, Chinese 316 stainless steel scrap, broke away from a three-day static phase with a 1.1 percent jump on May 9, 2012. The price of Chinese primary nickel saw a 0.3 percent decline to CNY 130,800 ($20,784) per metric ton. Chinese 304 stainless steel scrap stayed flat at around CNY 18,700 ($2,971) per metric ton. At CNY 18,700 ($2,971) per metric ton, the price of Chinese 304 stainless coil was essentially unchanged. The price of Chinese 316 stainless coil was unchanged at CNY 31,500 ($5,005) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,318) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,040) per metric ton.

The cash price of Indian primary nickel weakened by one percent, settling at INR 910 ($17) per kilogram. Also on the LME, the nickel 3-month price increased 0.2 percent to $17,465 per metric ton. The primary nickel price increased 0.2 percent on the LME to $17,405 per metric ton.

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