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The Chinese primary aluminum cash price saw a 0.6 percent increase on May 3, 2012, reaching CNY 16,200 ($2,581) per metric ton on the SHFE and making it the biggest mover for the day on aluminum markets.

The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining around CNY 14,050 ($2,239) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 16,150 ($2,573) per metric ton. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat at CNY 16,650 ($2,653) per metric ton.

The price of Indian aluminum primary declined 0.5 percent to INR 109.00 ($2.06) per kilogram. The LME cash price of primary aluminum declined 0.1 percent to $2,064 per metric ton. Also on the LME, the 3-month price of primary aluminum showed little movement on Thursday, hovering around $2,107 per metric ton.

The week’s biggest mover on the Raw Steels MMI® was the steel billet cash price, which saw a 2.2 percent increase on the LME to $475 per metric ton. This comes on the heels of a 2.3 percent decline the week prior. The steel billet 3-month price rose 2.1 percent on the LME to $490 per metric ton after falling five percent during the previous week.

Chinese steel prices were mixed for the week. The high and low prices of iron ore 58% fines from India hit in the range of $135 to $140 per dry metric ton. At CNY 4,290 ($683) per metric ton, the week finished with no movement for Chinese HRC. Prices for Chinese coking coal remained constant, closing the week at CNY 1,780 ($283) per metric ton. Chinese slab prices were off slightly at CNY 4,360 ($694) per metric ton, down from CNY 4,390 ($696) a week ago.

US shredded scrap fell 0.5 percent over the past week to $435 per short ton. Closing at $670 per short ton, the 3-month price of US HRC futures remained unchanged for the week. The spot price of US HRC futures contract traded sideways last week, hovering around $685 per short ton.

Korean steel prices were flat for the week. Korean steel scrap traded sideways last week, hovering around KRW 430,000 ($378) per metric ton. Korean pig iron prices held steady from the previous week at KRW 790,000 ($694) per metric ton.

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.

The price of primary nickel saw the biggest shift of the day, dropping 1.7 percent on the LME to close at $17,525 per metric ton on May 2, 2012. Also on the LME, the 3-month price of nickel fell 1.6 percent to $17,620 per metric ton. The cash price of Indian primary nickel weakened by 1.5 percent, settling at INR 922 ($17) per kilogram.

Chinese stainless steel closed mixed yesterday. The price of Chinese 316 stainless coil remained steady at CNY 31,500 ($4,991) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 18,600 ($2,947) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap was unchanged at CNY 18,200 ($2,886) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 18,600 ($2,947) per metric ton.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,315) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($22,975) per metric ton.

Wednesday saw the price of Chinese primary nickel shift down 0.9 percent to CNY 131,800 ($20,883) per metric ton after a couple of stagnant days.

Indian primary aluminum saw a 1.4 percent increase on May 2, 2012, reaching INR 109.60 ($2.09) per kilogram and making it the biggest upwards shift of the day. After a 0.4 percent increase, the primary aluminum cash price finished the day on the LME at $2,067 per metric ton. Also on the LME, the 3-month price of primary aluminum inched up 0.4 percent to $2,106 per metric ton.

Chinese aluminum closed mixed on Wednesday. Closing out a three-day flat streak, the price of Chinese aluminum billet moved up 0.3 percent to CNY 16,150 ($2,558) per metric ton. Following three days of little change on the SHFE, the cash price of Chinese primary aluminum rose by 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 bar saw little movement at CNY 14,050 ($2,226) per metric ton.

On May 2, 2012, US silver fell by 2.1 percent to $30.52 per ounce, making it the day’s biggest mover on precious metals markets. Following a quiet couple of days, the price of Indian silver fell 0.8 percent on Wednesday to INR 55,350 ($1,054) per kilogram. The price of Chinese silver closed Wednesday at CNY 6,490 ($1,028) per kilogram, halting its two-day flat run with a 0.4 percent decline. Japanese silver held its value yesterday at JPY 793.00 ($9.89) per 10 grams.

US gold bullion finished the day down 0.5 percent to $1,652 per ounce. Japanese gold bullion saw its price rise 0.3 percent to JPY 4,285 ($53) per gram. At INR 29,225 ($556), the price of Indian gold bullion finished the market day up 0.2 percent per 10 grams. The price of Chinese gold bullion rose by 0.1 percent to CNY 336.98 ($53.39) per gram.

Japanese platinum bar prices rose 0.9 percent to JPY 4,042 ($50) per gram. US platinum bar closed 0.3 percent lower at $1,559 per ounce. The price of Chinese platinum bar showed little movement yesterday at CNY 338.00 ($53.56) per gram.

US palladium bar prices saw a 1.6 percent decline to $668.00 per ounce. The price of Chinese palladium bar nudged up 1.2 percent on Wednesday, closing at CNY 163.00 ($25.83) per gram. Japanese palladium bar saw little change in its price yesterday at JPY 1,745 ($21) per gram.

With a 2.5 percent increase over the past day, the cash price of steel billet was the biggest mover on the LME, closing at $487 per metric ton. Also on the LME, the steel billet 3-month price gained one percent to finish at $495 per metric ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 860 ($136) and a low price of CNY 870 ($137) per dry metric ton. The price of Chinese HRC saw essentially no change for the fifth day in a row, remaining around CNY 4,290 ($679) per metric ton. The price of Chinese coking coal held steady at CNY 1,780 ($282) per metric ton.

The US HRC futures contract 3-month price held steady around $670 per short ton. The spot price of US HRC futures contract saw little movement at $685 per short ton.

On May 2, 2012, the Japanese primary copper cash price fell by 0.6 percent, landing at JPY 709,000 ($8,841) per metric ton and making it the day’s biggest mover. For the seventh day in a row, the price of US copper producer grade 110 rose and is currently at $6.83 per pound. The price of US copper producer grade 102 has been on the rise for seven days and is now at $7.02 per pound. After a couple of days of improving prices, the price of US copper producer grade 122 held steady at $6.

Chinese copper prices were mixed for the day. The price of Chinese copper wire improved by 0.4 percent, closing at CNY 58,475 ($9,265) per metric ton on Wednesday. The price of Chinese copper bar moved up 0.4 percent, landing at CNY 59,380 ($9,408) per metric ton. The cash price of Chinese primary copper rose by 0.4 percent on the SHFE to CNY 59,580 ($9,440) yesterday after remaining flat for two days. The price of Chinese bright copper scrap remained essentially flat at CNY 50,050 ($7,930) per metric ton.

The 3-month price of primary copper on the LME has been on the rise for eight days and is now at $8,390 per metric ton. The primary copper cash price flattened at $8,528 after two days of improvement on the LME.

The primary aluminum 3-month price saw the biggest shift of the day, dropping 0.5 percent on the LME to close at $2,098 per metric ton on May 1, 2012. The LME primary aluminum cash price weakened by 0.5 percent, settling at $2,058 per metric ton. Indian primary aluminum held its value yesterday at INR 108.05 ($2.05) per kilogram.

Chinese aluminum prices were flat for the day. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat at CNY 16,650 ($2,651) per metric ton. The price of Chinese aluminum billet was unchanged at CNY 16,100 ($2,563) per metric ton. The price of Chinese aluminum bar held steady at CNY 14,050 ($2,237) per metric ton. The cash price of Chinese primary aluminum held steady on Tuesday on the SHFE, remaining around CNY 16,080 ($2,560) per metric ton.

Silicon dropped to CNY 13,600 ($2,165) per metric ton making it the biggest mover on the Renewables MMI® this week, after shifting 8.1 percent. Chinese cobalt cathodes saw a two percent decline over the past week to CNY 245,000 ($39,016) per metric ton. Chinese steel plate fell 0.8 percent over the past week to CNY 4,810 ($766) per metric ton. Neodymium traded sideways last week, hovering around CNY 715,000 ($113,864) per metric ton.

Japanese steel plate remained essentially flat from the previous week at JPY 80,000 ($998) per metric ton. Following a steady week, prices for Korean steel plate closed at KRW 1.1 million ($964) per metric ton. Chinese steel plate prices were off slightly at CNY 4,810 ($766) per metric ton, down from CNY 4,850 ($769) a week ago. The price of US steel plate rose 0.2 percent to $921 per short ton after falling 0.5 percent during the previous week.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables 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 Chinese low price of 62% Australian iron ore fines finished as the week’s biggest mover on the Construction MMI® after dropping 1.8 percent and landing at CNY 1,080 ($171) per dry metric ton.

The price of Chinese H-beam steel declined 1.2 percent over the past week, settling at CNY 4,150 ($658) per metric ton. The price of Chinese rebar dropped 0.5 percent this week, closing out the third consecutive week of falling prices at CNY 4,420 ($703) per metric ton. Closing out the third week of declining prices, the price of US shredded scrap dropped by 0.2 percent, finishing at $435 per short ton.

Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,237) per metric ton. At EUR $2,415 ($3,171) per metric ton, the week finished with no movement for European 1050 aluminum.

The Construction MMI® collects and weights 9 metal price points used within the construction industry to provide a unique view into construction industry price trends. For more information on the Construction MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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