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LME Nickel Price Declines 2.3 Percent

On May 1, 2012, the day’s biggest mover was the LME price of primary nickel, which saw a 2.3 percent decline to $17,835 per metric ton. The 3-month price of nickel weakened by 2.3 percent on the LME, settling at $17,910 per metric ton. The cash price of Indian primary nickel saw little change in its price on Tuesday at INR 936 ($17) per kilogram. The price of Chinese primary nickel held steady around CNY 133,000 ($21,180) per metric ton.

Stainless Steel and Inputs Prices Steady

Chinese stainless steel prices were flat for the day.

Chinese 316 stainless coil stayed flat at around CNY 31,500 ($5,016) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 18,600 ($2,962) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap showed little movement on Tuesday at CNY 18,200 ($2,886) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 18,600 ($2,962) per metric ton.

The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,321) 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 ($23,091) per metric ton.

LME Steel Billet 3-Month Price Plateaus

Staying around $490 per metric ton for the day, the steel billet 3-month price remained flat on the LME. The LME cash price of steel billet flattened at $475 after two days of improvement.

Chinese steel and inputs 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 ($138) per dry metric ton. The price of Chinese coking coal saw little movement at CNY 1,780 ($283) per metric ton. Chinese slab held its value on Tuesday at CNY 4,360 ($694) per metric ton.

The 3-month price of US HRC futures showed little movement yesterday, hovering around $670 per short ton. The spot price of US HRC futures contract was unchanged at $685 per short ton.

The cash price of Japanese primary copper saw the biggest increase at 1.4 percent, finishing at JPY 713,000 ($8,900) per metric ton for May 1, 2012.

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.

Chinese copper prices closed flat for the day. The Chinese primary copper cash price held steady yesterday on the SHFE, remaining around CNY 59,350 ($9,451) per metric ton. At CNY 58,225 ($9,272) per metric ton, the price of Chinese copper wire was essentially unchanged. The price of Chinese bright copper scrap remained steady at CNY 50,050 ($7,970) per metric ton.

The primary copper cash price on the LME has been on the rise for ten days and is now at $8,529 per metric ton. Also on the LME, the 3-month price of primary copper rose 0.7 percent to $8,377 per metric ton.

PGM Price Trends Update

On May 1, 2012, Japanese platinum bar fell by 1.7 percent to JPY 4,006 ($50) per gram, making it the day’s biggest mover. US platinum bar settled at $1,564 per ounce, after a 0.3 percent drop yesterday. At CNY 338.00 ($53.83) per gram, the price of Chinese platinum bar was essentially unchanged.

Japanese palladium bar saw little change in its price yesterday at JPY 1,745 ($21) per gram. The price of US palladium bar ended a two-day climb, settling at $679.00 per ounce. The price of Chinese palladium bar remained essentially flat at CNY 161.00 ($25.64) per gram.

Japan Gold Drops, Silver Up and Down

Japanese gold bullion finished the day down 0.4 percent to JPY 4,273 ($53) per gram. The price of US gold bullion remained steady at $1,661 per ounce. Chinese gold bullion held its value on Tuesday at CNY 336.61 ($53.61) per gram. Following a two-day rise, the price of Indian gold bullion flattened at INR 29,175 ($553).

US silver gained 0.5 percent to finish at $31.16 per ounce. The price of Japanese silver dropped by 0.5 percent to JPY 793.00 ($9.90) per 10 grams after holding steady. Chinese silver stayed flat at around CNY 6,515 ($1,037) per kilogram. The price of Indian silver held steady at INR 55,776 ($1,058) per kilogram.

Copper Market Price Trends – April 30, 2012

Primary copper cash prices saw the biggest upwards shift for the day, rising one percent on the LME to close at $8,443 per metric ton on April 30, 2012. Also on the LME, primary copper 3-month prices increased 0.8 percent to $8,322 per metric ton.

US copper producer grade 110 prices inched up 0.7 percent to $6.81 per pound. After a 0.7 percent increase, the US copper producer grade 102 price finished the day at $7.00 per pound. The Japanese primary copper cash price showed little movement yesterday, hovering around JPY 703,000 ($8,711) per metric ton.

Chinese copper prices were flat for the day. The Chinese primary copper cash price steadied at CNY 59,350 ($9,436) on the SHFE per metric ton. The price of Chinese copper wire flattened at CNY 58,225 ($9,257) after two days of improvement. The price of Chinese bright copper scrap showed little movement yesterday at CNY 50,050 ($7,958) per metric ton.

Aluminum Market Price Trends – April 30, 2012

On April 30, 2012, LME primary aluminum cash prices experienced the biggest change, rising 1.4 percent to $2,068 per metric ton. On the LME, the 3-month price of primary aluminum rose 1.4 percent to $2,109 per metric ton. The cash price of Indian primary aluminum declined 0.8 percent to INR 108.05 ($2.06) per kilogram, after two days of improvement.

Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap was unchanged at CNY 16,650 ($2,647) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,559) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,050 ($2,233) per metric ton. On the SHFE, Chinese primary aluminum cash prices remained essentially flat at CNY 16,080 ($2,556) per metric ton.

The week’s biggest mover on the Global Precious Metals MMI® was the price of Japanese platinum bar, which saw a 2.6 percent decrease to JPY 4,075 ($50) per gram. The price of US platinum bar rose 1.1 percent to $1,568 per ounce after falling 1.3 percent during the previous week. Chinese platinum bar fell 0.6 percent last week to CNY 338.00 ($53.74) per gram.

The price of US gold bullion rose 2.2 percent to $1,662 per ounce after falling 1.5 percent during the previous week. The price of Indian gold bullion rose 1.9 percent over the past week to INR 29,175 ($555) per 10 grams. This was the third week in a row of increasing prices. The price of Chinese gold bullion rose 0.6 percent to CNY 336.61 ($53.52) per gram after falling 0.5 percent during the previous week. The price of Japanese gold bullion fell 0.3 percent to JPY 4,290 ($53) per gram after rising 0.8 percent the week before.

Following a 0.4 percent increase, the price of Japanese silver fell 1.5 percent last week to JPY 797.00 ($9.88) per 10 grams. The price of US silver rose 1.4 percent to $30.99 per ounce after falling 3.1 percent during the previous week. The price of Chinese silver fell 1.4 percent to CNY 6,515 ($1,035) per kilogram after rising 0.3 percent the week before. Following a 1.1 percent increase, the price of Indian silver fell 0.7 percent last week to INR 55,776 ($1,062) per kilogram.

Closing out the third week of rising prices, the price of US palladium bar increased by 2.3 percent, landing at $679.00 per ounce. The price of Chinese palladium bar fell 1.2 percent to CNY 161.00 ($25.60) per gram after rising 5.2 percent the week before. Following a five percent increase in the previous week, the price of Japanese palladium bar fell 0.6 percent last week to JPY 1,745 ($21) per gram.

The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide an unique view into precious metal price trends. For more information on the Global Precious Metals MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Closing at CNY 180,000 ($28,620) per metric ton on the Rare Earths MMI® , yttria rose 5.9 percent to finish as the week’s biggest mover in rare earth metals prices. Cerium oxide prices rose 5.7 percent over the past week to CNY 92,500 ($14,707) per metric ton. The neodymium oxide price saw a 2.5 percent decline over the past week to CNY 575,000 ($91,426) per metric ton.

Prices for dysprosium oxide remained constant, closing the week at CNY 4,650 ($739) per kilogram. Europium oxide prices held steady from the previous week at CNY 8,600 ($1,367) per kilogram. Europium oxide remained essentially flat from the previous week at CNY 8,600 ($1,367) per kilogram. At CNY 82,500 ($13,117) per metric ton, the week finished with no movement for lanthanum oxide.

Closing at CNY 440,000 ($69,961) per metric ton, praseodymium neodymium oxide remained unchanged for the week. Following a steady week, prices for praseodymium oxide closed flat at CNY 545,000 ($86,656) per metric ton. At CNY 69,000 ($10,971) per metric ton, the price of rare earth carbonate did not change since the previous week. Samarium oxide traded sideways last week, hovering around CNY 90,000 ($14,310) per metric ton.

Terbium metal remained essentially flat from the previous week at CNY 8,750 ($1,391) per kilogram. Terbium oxide prices held steady from the previous week at CNY 6,350 ($1,009) per kilogram. At CNY 690 ($109) per kilogram, the week finished with no movement for yttrium.

The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide an unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Silver and Gold Prices

The day’s biggest mover on the precious metals market was US silver, dropping 0.9 percent to settle at $30.99 per ounce on April 30, 2012. Indian silver stayed flat at around INR 55,776 ($1,062) per kilogram. Chinese silver saw little change in its price yesterday at CNY 6,515 ($1,035) per kilogram. The price of Japanese silver remained essentially flat at JPY 797.00 ($9.88) per 10 grams.

Indian gold bullion saw its price rise 0.6 percent to INR 29,175 ($555) per 10 grams. After improving for two days, the price of US gold bullion slipped slightly by 0.1 percent to $1,662 per ounce. At CNY 336.61 ($53.52) per gram, the price of Chinese gold bullion changed its two-day flat trend. The price of Japanese gold bullion showed little movement on Monday at JPY 4,290 ($53) per gram.

PGM Prices Update

The price of US platinum bar remained steady at $1,568 per ounce. After a couple of days of improving prices, the price of Chinese platinum bar held steady at CNY 338.00 ($53.74). The price of Japanese platinum bar broke its climb and settled at JPY 4,075 ($50) per gram.

US palladium bar prices inched up 0.3 percent to $679.00 per ounce. At JPY 1,745 ($21) per gram, the price of Japanese palladium bar were essentially unchanged. Chinese palladium bar held its value on Monday at CNY 161.00 ($25.60) per gram.

On April 30, 2012, the day’s biggest mover in global steel markets was the cash price of steel billet, which saw a 1.1 percent increase on the LME to $475 per metric ton. Also on the LME, the steel billet 3-month price gained one percent to finish at $490 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 ($138) per dry metric ton. The price of Chinese coking coal was unchanged at CNY 1,780 ($283) per metric ton. Chinese slab held its value yesterday at CNY 4,360 ($693) per metric ton.

The 3-month price of US HRC futures saw little change in its price yesterday at $670 per short ton. The spot price of US HRC futures contract saw little movement yesterday at $685 per short ton.

Stainless Steel Raw Material Inputs

The spot price of primary nickel saw the biggest upwards shift for the day in stainless steel and inputs markets, rising 1.6 percent on the LME to close at $18,255 per metric ton on April 30, 2012. Also on the LME, nickel 3-month prices rose 1.4 percent to $18,325 per metric ton.

The price of Chinese primary nickel prices flattened out at CNY 133,000 ($21,147) following a two-day increase. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,319) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,055) per metric ton.

Chinese Stainless Steel Overview

Chinese stainless steel prices were flat for the day. The price of Chinese 316 stainless coil remained essentially flat at CNY 31,500 ($5,008) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 18,600 ($2,957) per metric ton.

Chinese 316 stainless steel scrap saw little change in its price on Monday 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 ($2,957) per metric ton.

The week’s biggest mover on the Stainless MMI® was the price of Chinese 316 stainless steel scrap, which saw a 2.8 percent increase to CNY 18,200 ($2,886) per metric ton. This comes on the heels of a 3.8 percent decline the week prior.

The price of Chinese primary nickel rose 1.9 percent to CNY 133,000 ($21,147) per metric ton after falling 0.8 percent during the previous week. Chinese 316 stainless coil saw a 1.6 percent decline over the past week to CNY 31,500 ($5,008) per metric ton. Closing at CNY 18,600 ($2,957) per metric ton, Chinese 304 stainless steel scrap remained unchanged for the week. Following a steady week, prices for Chinese 304 stainless coil closed flat at CNY 18,600 ($2,957) per metric ton.

Chinese ferro-chrome prices held steady from the previous week at CNY 8,300 ($1,319) per metric ton. Prices for Chinese ferro-moly remained constant, closing the week at CNY 145,000 ($23,055) per metric ton.

At KRW 2.6 million ($2,261) per metric ton, the price of Korean 430 stainless steel coil did not change since the previous week. Korean 304 stainless coil traded sideways last week, hovering around KRW 4.2 million ($3,693) per metric ton.

The 3-month price of nickel rose 2.2 percent on the LME to $18,065 per metric ton after falling 4.3 percent during the previous week. The price of primary nickel rose two percent on the LME to $17,965 per metric ton after falling 4.3 percent during the previous week.

The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless 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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