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The week’s biggest mover on the Copper MMI® was the primary copper cash price, which saw a 2.7 percent decline on the LME to $8,296 per metric ton. This comes on the heels of a 4.1 percent increase the week before. Following a 3.7 percent increase in the week prior, the 3-month price of primary copper fell two percent on the LME last week to $8,225 per metric ton.

Chinese copper prices were mixed for the week. The price of Chinese copper wire fell 1.2 percent to CNY 57,780 ($9,162) per metric ton after rising 1.5 percent the week before. The price of Chinese bright copper scrap increased by a slight 1.1 percent over the past week to CNY 50,600 ($8,023) per metric ton. Following a 1.6 percent increase in the week prior, the price of Chinese copper bar fell 0.4 percent last week to CNY 59,120 ($9,375) per metric ton. The Chinese primary copper cash price fell 0.4 percent on the SHFE to CNY 59,320 ($9,406) per metric ton after rising 1.6 percent the week before.

Following a 2.4 percent increase in the week prior, the price of US copper producer grade 122 fell 1.6 percent last week to $6 per pound. The price of US copper producer grade 110 fell 1.6 percent to $6.72 per pound after rising 2.4 percent the week before. Following a 2.3 percent increase in the week prior, the price of US copper producer grade 102 fell 1.6 percent last week to $6.91 per pound. The Japanese primary copper cash price rose 0.4 percent over the past week to JPY 712,000 ($8,870) per metric ton. Following a steady week, prices for Korean copper strip closed flat at KRW 10,850 ($9) per kilogram.

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

On May 7, 2012, the day’s biggest mover was the cash price of steel billet, which saw a three percent increase on the LME to $480 per metric ton. This increase comes after two straight days of stagnant prices. The 3-month price of steel billet showed little movement yesterday on the LME at $485 per metric ton.

Chinese steel prices closed flat for the day. The high and low prices of iron ore 58% fines from India stayed in a range of $135-$140 per dry metric ton. The price of Chinese HRC was unchanged at CNY 4,290 ($680) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,780 ($282) per metric ton.

The spot price of US HRC futures contract moved up 1.5 percent, landing at $665 per short ton. For the fifth consecutive day, the 3-month price of US HRC futures held flat at $670 per short ton.

Japanese Copper Price Up

The cash price of Japanese primary copper gained 0.4 percent, closing at JPY 712,000 ($8,870) per metric ton on May 7, 2012. The price of US copper producer grade 122 dropped by 0.1 percent to $6 per pound after holding steady. The price of US copper producer grade 110 fell 0.1 percent to $6.72 per pound yesterday after two days of no change. The price of US copper producer grade 102 closed Monday at $6.91 per pound, halting its two-day flat run with a 0.1 percent decline.

The price of Chinese copper bar remained steady at CNY 59,120 ($9,375) per metric ton. On the SHFE, the Chinese primary copper cash price showed little movement yesterday, hovering around CNY 59,320 ($9,406) per metric ton. The price of Chinese bright copper scrap remained essentially flat at CNY 50,600 ($8,023) per metric ton.

After two changeless days, the 3-month price of primary copper fell 0.4 percent on the LME to $8,225 per metric ton. Following a quiet couple of days on the LME, the primary copper cash price fell 0.3 percent on Monday to $8,296 per metric ton.

Chinese Aluminum Billet Price Improves

The day’s biggest mover on the aluminum markets broke away from a static phase with a 0.3 percent jump up on May 7, 2012 — after three changeless days, the price of Chinese aluminum billet closed at CNY 16,200 ($2,568) per metric ton.

The cash price of Chinese primary aluminum saw little movement yesterday on the SHFE, closing out around CNY 16,170 ($2,564) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,050 ($2,227) per metric ton for the fifth day in a row. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,650 ($2,640) per metric ton.

The cash price of primary aluminum held steady yesterday on the LME, remaining around $2,048 per metric ton. The cash price of Indian primary aluminum remained essentially flat at INR 110.00 ($2.06) per kilogram. Also on the LME, the primary aluminum 3-month price saw little movement yesterday at $2,088 per metric ton.

On May 7, 2012, the cash price of Indian primary nickel experienced the biggest change, rising 1.1 percent to INR 933 ($17) per kilogram. The nickel 3-month price also saw a 1.1 percent decline on the LME to $17,425 per metric ton. On the LME, the primary nickel price fell 0.9 percent to $17,370 per metric ton. The price of Chinese primary nickel weakened by 0.5 percent, settling at CNY 131,200 ($20,805) per metric ton.

Chinese stainless steel closed mixed on Monday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,316) 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 ($22,993) per metric ton.

After a few days of little change, the price of Chinese 304 stainless coil jumped 0.5 percent, landing at CNY 18,700 ($2,965) per metric ton. The price of Chinese 304 stainless steel scrap increased 0.5 percent to CNY 18,700 ($2,965) per metric ton.The price of Chinese 316 stainless coil remained essentially flat at CNY 31,500 ($4,995) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 18,200 ($2,886) per metric ton.

This past week, European 1050 aluminum dropped 3.6 percent on the Aluminum MMI®, landing at EUR $2,327 ($3,077) per metric ton as the biggest mover. European 5083 plate fell 1.1 percent over the past week to EUR $3,004 ($3,973) per metric ton. Korean 3003 coil premium over 1050 sheet prices held steady from the previous week at 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.

Chinese aluminum prices were mixed for the week. Chinese aluminum billet rose 0.3 percent over the past week to CNY 16,150 ($2,558) per metric ton. The cash price of Chinese primary aluminum rose 0.1 percent on the SHFE over the past week to CNY 16,100 ($2,551) per metric ton. This was the third week in a row of increasing prices. At CNY 14,050 ($2,226) per metric ton, the week finished with no movement for Chinese aluminum bar.

The cash price of primary aluminum rose 1.3 percent on the LME over the past week to $2,067 per metric ton. Last week, the 3-month price of primary aluminum shifted slightly on the LME, rising by 1.2 percent to close at $2,106 per metric ton. In the past week, Indian aluminum primary saw its price drift up 0.6 percent to INR 109.60 ($2.09) per kilogram.

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.

Rising 2.1 percent on the LME to $8,528 per metric ton made the cash price of copper this week’s biggest mover on the Automotive MMI®. Also on the LME, the 3-month price of primary copper ticked up 1.6 percent over the past week to $8,390 per metric ton.

The price of Chinese primary lead shifted 0.3 percent on the SHFE to close at CNY 15,775 ($2,499) per metric ton this week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3) per kilogram.

Following a 0.6 percent increase in the week prior, the price of US HDG fell 1.1 percent last week to $827 per short ton.

The price of US palladium bar fell 1.3 percent to $668.00 per ounce after rising 0.7 percent the week before. The price of US platinum bar fell 0.6 percent over the past week to $1,559 per ounce. This was the third week in a row of declining prices.

The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends. For more information on the Automotive MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

 

Dropping 0.9 percent on the LME, the nickel 3-month price showed the most movement on May 3, 2012, closing at $17,470 per metric ton. The primary nickel price weakened by 0.5 percent on the LME, settling at $17,430 per metric ton. At INR 925 ($17), Indian primary nickel cash price finished the market day up 0.3 percent per kilogram.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,322) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,107) per metric ton for the fifth day in a row.

The price of Chinese primary nickel saw a 0.8 percent decline to CNY 130,800 ($20,844) per metric ton. The price of Chinese 304 stainless coil increased 0.5 percent to CNY 18,700 ($2,980) per metric ton. The price of Chinese 304 stainless steel scrap rose by 0.5 percent to CNY 18,700 ($2,980) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 31,500 ($5,019) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 18,200 ($2,886) per metric ton.

With a decline of 1.3 percent to $1,539 per ounce on May 3, 2012, US platinum bar recorded the biggest price shift of the day. The price of Chinese platinum bar fell 0.1 percent yesterday to CNY 337.50 ($53.78) per gram after three straight days with no change. Japanese platinum bar held its value on Thursday at JPY 4,042 ($50) per gram.

US palladium bar finished the day down 1.2 percent to $660.00 per ounce. At CNY 162.00 ($25.82) per gram, Chinese palladium bar fell 0.6 percent on Thursday. Japanese palladium bar saw little change in its price on Thursday at JPY 1,745 ($21) per gram.

US gold bullion prices saw a one percent decline to $1,635 per ounce. Chinese gold bullion closed 0.5 percent lower at CNY 335.15 ($53.41) per gram. Indian gold bullion prices inched up 0.2 percent to INR 29,274 ($553) per 10 grams. The price of Japanese gold bullion showed little movement on Thursday at JPY 4,285 ($53) per gram.

At $30.21 per ounce, US silver fell one percent on Thursday. Chinese silver at CNY 6,445 ($1,027) per kilogram, after the 0.7 percent drop yesterday. The price of Indian silver remained essentially flat at INR 55,370 ($1,047) per kilogram. Japanese silver stayed flat at around JPY 793.00 ($9.89) per 10 grams.

Rising one percent on the LME to close at $500 per metric ton, the 3-month price of steel billet experienced the biggest change in steel markets for May 3, 2012. The steel billet cash price saw a 0.2 percent decline on the LME to $486 per metric ton.

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a low price of CNY 860 ($137) and a high price of CNY 870 ($138) per dry metric ton. After three straight days of no change, the price of Chinese slab decreased by 0.2 percent to CNY 4,350 ($693) per metric ton. The price of Chinese HRC saw little movement at CNY 4,290 ($683) per metric ton.

The 3-month price of US HRC futures held steady at $670 per short ton. The spot price of US HRC futures contract remained essentially flat at $685 per short ton.

A drop of 3.4 percent made the US copper producer grade 102 price the biggest mover of the day on copper markets, finishing at $6.78 per pound on May 3, 2012.

US copper producer grade 110 prices weakened by 0.7 percent, settling at $6.78 per pound. This marked the fifth day in a row of declining prices and the drop-off has accelerated since April 27, 2012. Today also marks the fifth day in a row of declining prices for US copper producer grade 122. After falling 0.7 percent, prices settled at $6 per pound. The Japanese primary copper cash price held steady on Thursday, remaining around JPY 709,000 ($8,840) per metric ton.

Chinese copper prices were mixed for the day. The price of Chinese copper bar fell 0.3 percent to CNY 59,200 ($9,434) per metric ton. On the SHFE, the cash price of Chinese primary copper declined 0.3 percent to CNY 59,400 ($9,466) per metric ton. The price of Chinese copper wire declined 0.2 percent to CNY 58,380 ($9,303) per metric ton. The price of Chinese bright copper scrap remained essentially flat at CNY 50,050 ($7,976) per metric ton.

The cash price of primary copper weakened by 1.5 percent on the LME, settling at $8,401 per metric ton. Following two days of rising prices, the 3-month price of primary copper dropped 0.7 percent on the LME to $8,328 per metric ton.

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