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On April 26, 2012, the day’s biggest mover in copper prices was the LME copper 3-month price, which saw a 1.4 percent increase to $8,200 per metric ton. Also on the LME, primary copper cash prices inched up 1.1 percent to $8,285 per metric ton.

US copper producer grade 110 saw its price rise 0.5 percent to $6.70 per pound. US copper producer grade 102 prices finished the day up 0.4 percent to $6.89 per pound. The cash price of Japanese primary copper held steady on Thursday, remaining around JPY 698,000 ($8,586) per metric ton.

Chinese copper closed mixed yesterday. After a few days of little change, the cash price of Chinese primary copper jumped 0.3 percent on the SHFE, landing at CNY 58,850 ($9,333) per metric ton. The price of Chinese copper wire moved up 0.3 percent, landing at CNY 57,800 ($9,166) per metric ton. Chinese bright copper scrap saw little change in its price yesterday at CNY 50,050 ($7,937) per metric ton.

PGM Price Update

Decreasing one percent, US palladium bar was the biggest mover of the day, finishing at $665.00 per ounce on April 25, 2012. Chinese palladium bar closed 0.6 percent lower at CNY 162.00 ($25.69) per gram. At JPY 1,751 ($21) per gram, the price of Japanese palladium bar was essentially unchanged.

Chinese platinum bar ended the day at CNY 334.00 ($52.97) per gram after a 0.4 percent drop. The price of Japanese platinum bar held steady at JPY 4,048 ($49) per gram. The price of US platinum bar remained essentially flat at $1,552 per ounce.

Gold and Silver Price Update

After falling for two days, the price of Japanese gold bullion rose 0.9 percent to JPY 4,298 ($52) per gram. US gold bullion finished the day down 0.5 percent to $1,639 per ounce. At CNY 334.58 ($53.07), the price of Chinese gold bullion finished the market day up 0.3 percent per gram. Prices plateaued for Indian gold bullion at INR 28,808 ($546) per 10 grams.

US silver prices saw a one percent decline to $30.79 per ounce. Following a two-day drop, the price of Japanese silver increased by 0.4 percent to JPY 798.00 ($9.83) per 10 grams. The price of Indian silver declined 0.1 percent to INR 55,545 ($1,054) per kilogram. The price of Chinese silver broke its fall and settled at CNY 6,465 ($1,025) per kilogram.

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On April 25, 2012, primary aluminum cash prices experienced the biggest change, rising 0.9 percent on the LME to $2,030 per metric ton. At $2,069, the 3-month price of primary aluminum finished the market day on the LME up 0.8 percent per metric ton. The cash price of Indian primary aluminum prices flattened out, at above $2.00 per kilogram, following a two-day increase.

Chinese aluminum prices closed flat for the day. On the SHFE, the cash price of Chinese primary aluminum saw little movement yesterday at CNY 16,060 ($2,547) per metric ton. The price of Chinese aluminum scrap held steady in the mid-$2,000 per metric ton range. Chinese aluminum billet saw little change in its price on Wednesday, also holding in the mid-$2,000 per metric ton range. The price of Chinese aluminum bar was unchanged at above $2,200 per metric ton.

The LME steel billet cash price saw a 1.1 percent drop on the LME on April 25, 2012, landing at $470 per metric ton and resulting in a 3.1 percent decline over the past week — making it the week’s biggest mover on the Raw Steels MMI®. Closing out the third week of declining prices, steel billet 3-month prices dropped by two percent on the LME, finishing at $490 per metric ton.

The US HRC futures contract 3-month price fell 1.8 percent last week, settling at $673 per short ton. US HRC futures contract spot fell 0.7 percent for the week to settle at $685 per short ton. Following a 0.5 percent increase during the week prior, the price of US shredded scrap fell 0.2 percent last week to $436 per short ton.

Chinese steel prices were mixed for the week. Iron ore 58% fines from India ranged from CNY 860 ($136) to CNY 870 ($137) per dry metric ton. The price of Chinese slab fell 0.2 percent to CNY 4,390 ($696) per metric ton after rising 0.2 percent during the week prior. Chinese coking coal prices held steady from the previous week at CNY 1,780 ($282) per metric ton.

This week’s Korean steel prices stayed flat. Korean steel scrap essentially didn’t move from the previous week at KRW 430,000 ($378) per metric ton. Prices for Korean pig iron remained constant, closing the 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: info (at) agmetalminer (dot) com.

The Nickel Market

On April 25, 2012, the day’s biggest mover was the price of Chinese primary nickel, which saw a 0.6 percent decline to CNY 130,750 ($20,737) per metric ton. On the LME, the 3-month price of nickel rose 0.2 percent to $17,660 per metric ton. The LME price of primary nickel saw little change in its price on Wednesday at $17,600 per metric ton.

Chinese Stainless Prices

The price of Chinese 316 stainless steel scrap increased 0.6 percent to CNY 18,200 ($2,886) per metric ton. The Chinese 304 stainless steel scrap price showed little movement on Wednesday at CNY 18,600 ($2,950) per metric ton. The price of Chinese 304 stainless coil remained steady at CNY 18,600 ($2,950) per metric ton. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 32,000 ($5,075) per metric ton.

The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,316) per metric ton for the fifth day in a row. Also for the fifth straight day, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($22,997) per metric ton.

The LME cash price of primary copper saw the biggest increase at 0.8 percent, finishing at $8,194 per metric ton for April 25, 2012. Also on the LME, the 3-month price of primary copper gained 0.5 percent to finish at $8,090 per metric ton.

After a 0.8 percent price increase, US copper producer grade 110 finished the day at $6.67 per pound. The price of US copper producer grade 102 increased 0.7 percent to $6.86 per pound. The Japanese primary copper cash price saw little change in its price yesterday at JPY 698,000 ($8,595) per metric ton.

Chinese copper closed mixed yesterday. The price of Chinese bright copper scrap declined 0.2 percent to CNY 50,050 ($7,938) per metric ton. The price of Chinese copper wire remained steady at CNY 57,610 ($9,137) per metric ton. The Chinese primary copper cash price remained essentially flat on the SHFE at CNY 58,650 ($9,302) per metric ton.

US steel plate dropped 0.5 percent on the Renewables MMI®, landing at $919 per short ton and making it the week’s biggest mover on the index. At $3,895 per short ton, the price of US grain-oriented electrical steel (GOES) did not change since the previous week. Closing at KRW 1.1 million ($967) per metric ton, Korean steel plate remained unchanged for the week. At JPY 80,000 ($986) per metric ton, the week finished with no movement for Japanese steel plate.

Chinese renewables prices were flat for the week. Chinese cobalt cathodes remained essentially flat from the previous week at CNY 250,000 ($39,653) per metric ton. Silicon prices held steady from the previous week at CNY 14,700 ($2,331) per metric ton. Following a steady week, prices for neodymium closed flat at CNY 715,000 ($113,408) per metric ton. At CNY 4,850 ($769) per metric ton, the week finished with no movement for Chinese steel plate.

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.

This past week, Chinese rebar dropped 0.7 percent on the Construction MMI®, landing at CNY 4,440 ($704) per metric ton as the biggest mover within the index. The price of US shredded scrap fell 0.2 percent to $436 per short ton after rising 0.2 percent during the week prior. At CNY 1,100 ($174) per dry metric ton, the price of Chinese 62% Australian iron ore fines did not change since the previous week. Prices for Chinese H-beam steel remained constant, closing the week at CNY 4,200 ($666) per metric ton.

Closing at CNY 14,050 ($2,228) per metric ton, Chinese aluminum bar remained unchanged for the week. European 1050 aluminum traded sideways last week as well, hovering around EUR $2,415 ($3,171) per metric ton.

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.

On April 24, 2012, 3-month prices of LME nickel fell by one percent, landing at $17,625 per metric ton and making it the day’s biggest mover in stainless steel inputs. Also on the LME, primary nickel spot prices fell 0.9 percent to $17,595 per metric ton.

Chinese stainless steel and its inputs closed mixed on Tuesday.

The price of Chinese 316 stainless coil was unchanged at CNY 32,000 ($5,075) per metric ton. Chinese 304 stainless coil saw little change in its price yesterday at CNY 18,600 ($2,950) per metric ton. The price of Chinese 316 stainless steel scrap remained steady at CNY 18,100 ($2,871) per metric ton. Chinese 304 stainless steel scrap stayed flat at around CNY 18,600 ($2,950) per metric ton.

The price of Chinese ferro-moly held steady at CNY 145,000 ($22,999) per metric ton. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,316) per metric ton for the fifth day in a row. The price of Chinese primary nickel increased 0.2 percent to CNY 131,500 ($20,857) per metric ton.

On April 24, 2012, the day’s biggest mover was Japanese primary copper cash prices, which saw a 1.5 percent increase to JPY 698,000 ($8,605) per metric ton. The US copper producer grade 110 price finished the day down one percent to $6.62 per pound. At $6.81 per pound, the US copper producer grade 102 price fell one percent yesterday.

Chinese copper prices were flat for the day. Following a two-day rise, the price of Chinese copper wire flattened at CNY 57,650 ($9,144). On the SHFE, the cash price of Chinese primary copper held steady around CNY 58,680 ($9,307) per metric ton. The price of Chinese bright copper scrap steadied at CNY 50,150 ($7,954) per metric ton following its short climb.

The 3-month price of LME primary copper weakened by 0.4 percent, settling at $8,049 per metric ton. Primary copper cash prices showed little movement on Tuesday on the LME at $8,125 per metric ton.

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