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The price of US copper producer grade 110 saw the biggest upwards shift for the day, rising 0.7 percent to close at $4.14 per pound on March 8, 2013. After a 0.7 percent increase, the price of US copper producer grade 122 finished the day at $4.14 per pound. The price of US copper producer grade 102 rose 0.7 percent to $4.33 per pound. The cash price of primary Japanese copper saw essentially no change for the fifth day in a row, remaining around JPY 640,000 ($6,742) per metric ton.

Chinese copper closed mixed last Friday. Chinese copper wire finished the day up 0.6 percent to CNY 56,580 ($9,093) per metric ton. Chinese copper bar saw its price rise 0.5 percent to CNY 57,480 ($9,237) per metric ton. The Chinese copper cash price rose 0.5 percent to CNY 57,680 ($9,269) per metric ton. At CNY 46,730 ($7,510) per metric ton, the price of Chinese bright copper scrap was essentially unchanged.

On the LME, the cash price of primary copper fell 0.4 percent to $7,670 per metric ton. The 3-month price of copper weakened by 0.3 percent on the LME, settling at $7,710 per metric ton.

Dropping 0.9 percent on the LME, the cash price of primary aluminum was the biggest mover on March 8, 2013, closing at $1,910 per metric ton. On the LME, the 3-month price of aluminum declined 0.7 percent to $1,955 per metric ton. The cash price of primary Indian aluminum is back up, rising by 0.2 percent last Friday to close at INR 104.80 ($1.92) per kilogram.

Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price inched up 0.5 percent to CNY 14,550 ($2,338) per metric ton. At CNY 14,450 ($2,322), the price of Chinese aluminum billet finished the market day up 0.3 percent per metric ton. Chinese aluminum scrap stayed flat at around CNY 11,625 ($1,868) per metric ton. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining around CNY 14,050 ($2,258) per metric ton.

Chinese 316 stainless steel scrap dropped to CNY 16,200 ($2,603) per metric ton making it the biggest mover on the weekly Stainless MMI® this week, after drifting 3.0 percent. For the third week in a row, the price of Chinese primary nickel dropped, falling 0.3 percent to CNY 117,700 ($18,915) per metric ton. At CNY 17,700 ($2,844) per metric ton, the week finished with no movement for Chinese 304 stainless steel scrap. Chinese 304 stainless coil traded sideways last week, hovering around CNY 17,700 ($2,844) per metric ton. Following a steady week, prices for Chinese 316 stainless coil closed flat at CNY 26,500 ($4,259) per metric ton.

Closing at CNY 8,300 ($1,334) per metric ton, Chinese ferro-chrome remained unchanged for the week. At CNY 145,000 ($23,302) per metric ton, the price of Chinese ferro-moly did not change since the previous week.

At KRW 2.6 million ($2,376) per metric ton, the week finished with no movement for Korean 430 stainless steel coil. Prices for Korean 304 stainless coil remained constant, closing the week at KRW 4.2 million ($3,881) per metric ton.

The spot price of nickel fell 1.2 percent on the LME over the past week to $16,510 per metric ton. This was the fourth week in a row of declining prices. The nickel 3-month price fell 1.1 percent on the LME over the past week to $16,575 per metric ton. This was the fourth week in a row of declining prices. The cash price of primary Indian nickel rose 0.7 percent to INR 900.80 ($16.51) per kilogram after falling 1.8 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.

On March 8, 2013, the day’s biggest mover was Japanese palladium bar, which saw a 3.2 percent increase to JPY 2,346 ($24.71) per gram. US palladium bar saw its price rise 1.6 percent to $757.00 per ounce. Chinese palladium bar finished the day up 1.1 percent to CNY 181.00 ($29.09) per gram.

The price of Japanese platinum bar increased 1.8 percent to JPY 4,922 ($51.85) per gram. At CNY 343.00 ($55.12), the price of Chinese platinum bar finished the market day up 0.6 percent per gram. US platinum bar prices inched up 0.4 percent to $1,591 per ounce.

Japanese gold bullion gained 1.1 percent to finish at JPY 4,837 ($50.96) per gram. Chinese gold bullion closed 0.4 percent lower at CNY 317.60 ($51.04) per gram. Indian gold bullion ended the day at INR 29,210 ($535.28) per 10 grams, after the 0.4 percent drop last Friday. The price of US gold bullion fell 0.4 percent to $1,579 per ounce.

Japanese silver prices rose 1.3 percent to JPY 883.00 ($9.30) per 10 grams. Indian silver prices saw a 0.6 percent decline to INR 53,839 ($986.62) per kilogram. The price of US silver declined 0.6 percent to $28.88 per ounce, after two days of improvement. After improving for two days, the price of Chinese silver declined 0.4 percent to CNY 5,925 ($952.16) per kilogram.

Prices for Chinese HRC remained unchanged at CNY 4,050 ($650.84) per metric ton for. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,790 ($287.66) per metric ton. Chinese slab held its value last Friday at CNY 3,920 ($629.95) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.99) and a low price of CNY 830.00 ($133.38) per dry metric ton.

Also on the LME, the steel billet cash price saw little change in its price last Friday at $220.00 per metric ton. The steel billet 3-month price ended a two-day climb, settling at $240.00 per metric ton on the LME.

The 3-month price of the US HRC futures contract held steady around $635.00 per short ton. The spot price of the US HRC futures contract held steady around $612.00 per short ton.

On March 8, 2013, the day’s biggest mover was the spot price of nickel, which saw a 0.4 percent decline on the LME to $16,510 per metric ton. The Indian nickel cash price fell 0.3 percent to INR 900.80 ($16.51) per kilogram. On the LME, the nickel 3-month price declined 0.3 percent to $16,575 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,334) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,302) per metric ton.

The price of Chinese primary nickel gained 0.2 percent to finish at CNY 117,700 ($18,915) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,500 ($4,259) per metric ton. Chinese 304 stainless coil stayed flat at around CNY 17,700 ($2,844) per metric ton. At CNY 16,200 ($2,603) per metric ton, the price of Chinese 316 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless steel scrap remained steady at CNY 17,700 ($2,844) per metric ton.

The monthly Renewables MMI® registered a value of 67 in March, a decrease of 1.5 percent from 68 in February.

Declines in US steel plate pricing and grain-oriented electrical steel pricing drove the overall index decline this month.

Exelon, for one, as this article reports, is still gung-ho on its renewable energy investment plans, with more facilities slated to come online. However, in the much longer term, wind power may indeed prove to be untenable, based on a Harvard engineering school study that was just released.

“The latest research in mesoscale atmospheric modeling, published today in the journal Environmental Research Letters, suggests that the generating capacity of large-scale wind farms has been overestimated,” according to the report.

Looking at recent trends, US power construction spending is back down for January 2013, clocking in at $99.63 billion – this after two straight months of increases.

Primary Price Drivers for Renewable Energy Metals Index

At $729.00 per short ton, US steel plate was down 1.9 percent for the month. The US grain-oriented electrical steel (GOES) coil price also dropped 1.0 percent, finishing the month at $3,238 per metric ton.

The price of neodymium closed the month at $68,290 per metric ton after dropping 6.6 percent.

The price of Chinese steel plate increased 2.8 percent to $700.58 per metric ton.

The price of Chinese cobalt cathodes held steady around $33,743 per metric ton last month. Prices for silicon remained constant this past month, holding at around $2,169 per metric ton. The price of Korean steel plate held flat over the past month at $1,008 per metric ton. The price of Japanese steel plate remained steady over the past month at $856.40 per metric ton.

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 over a 30-day period. 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 monthly Global Precious Metals MMI® registered a value of 108 in March, a decrease of 4.4 percent from 113 in February.

This was the largest fall for the our precious metals index since the October-November decline, mainly on the back of global silver prices. In fact, most of the price points in the complex tumbled over the last month. However, the index is still holding well above the Jan. 2012 baseline of 100.

MetalMiner’s Stuart Burns recently analyzed the gold market, reporting on the ETF outflows. “Since the start of January, gold ETFs have dumped 140 metric tons of gold. February saw the largest monthly outflow of gold from ETFs on record, and Comex has chalked up the highest level of short positions in more than a decade,” he wrote.

According to Stuart’s analysis, the cost of production for gold has skyrocketed over the years, ore grades are declining and new viable mines are few and far between. The main takeaway, however, is to keep an eye on global GDP growth as a key indicator: “If GDP growth does not live up to expectations this year and next, gold at sub-$1,500 per ounce may look like it has some legs after all.”

Meanwhile, ETF Securities weighed in on the PGM market in a report earlier this week: “A seemingly more stable South African supply picture weighed on white metal prices, overshadowing positive auto sector developments,” according to the report. “The stronger USD also helped depress PGM prices.”

Looking forward, however, strengthening automotive markets in the US and worldwide should contribute to solid PGM fundamentals.

Primary Price Drivers of the Precious Metals Index

US silver prices fell 9.4 percent to $28.51 per ounce. A 8.1 percent decline for Japanese silver left the price at JPY 850.00 ($9.08) per 10 grams. At $966.73 per kilogram, the price of Indian silver finished the month 7.4 percent lower. After falling 7.1 percent, Chinese silver finished the month at $944.81 per kilogram. Following a 6.1 percent decline in price, US platinum bar finished the month at $1,581 per ounce. US gold bullion prices dropped by 5.1 percent this month to $1,580 per ounce. Following a 4.5 percent decline in price, Chinese platinum bar finished the month at $54.63 per gram. A 4.4 percent drop over the past month left Japanese platinum bar at $50.40 per gram. After falling 4.3 percent, Japanese gold bullion finished the month at $50.35 per gram. At $51.50 per gram, Chinese gold bullion was down 4.2 percent for the month. At $535.73 per 10 grams, the price of Indian gold bullion fell 1.9 percent. The value of Chinese palladium bar weakened by 1.7 percent this month, settling at $28.44 per gram.

At $25.06 per gram, the price of Japanese palladium bar finished the month 5.7 percent higher.

The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide a unique view into precious metal price trends over a 30-day period. 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.

On March 7, 2013, the day’s biggest mover was Japanese palladium bar, which saw a 1.9 percent increase to JPY 2,274 ($24.21) per gram. US palladium bar prices rose 1.4 percent to $745.00 per ounce. The price of Chinese palladium bar increased 0.6 percent to CNY 179.00 ($28.78) per gram.

At CNY 341.00 ($54.83) per gram, Chinese platinum bar fell 0.7 percent yesterday. After a 0.7 percent increase, Japanese platinum bar finished the day at JPY 4,834 ($51.46) per gram. The price of US platinum bar remained steady at $1,585 per ounce.

At JPY 4,785 ($50.94), the price of Japanese gold bullion finished the market day up 1.2 percent per gram. US gold bullion finished the day up 0.6 percent to $1,584 per ounce. Chinese gold bullion prices saw a 0.3 percent decline to CNY 319.00 ($51.29) per gram. The price of Indian gold bullion showed little movement yesterday at INR 29,338 ($536.14) per 10 grams.

Japanese silver saw its price rise 1.3 percent to JPY 872.00 ($9.28) per 10 grams. US silver prices rose 1.2 percent to $29.04 per ounce. Indian silver prices inched up 0.3 percent to INR 54,188 ($990.27) per kilogram. After a 0.2 percent increase, Chinese silver finished the day at CNY 5,950 ($956.63) per kilogram.

The week’s biggest mover on the weekly Automotive MMI® was the copper cash price, which saw a 1.7 percent decline on the LME to $7,699 per metric ton. Last week marked the fourth in a row of declining prices for the metal. The copper 3-month price dropped 1.7 percent on the LME this week, closing out the third consecutive week of falling prices at $7,733 per metric ton. Closing out the third week of declining prices, the price of Chinese lead dropped by 1.2 percent, finishing at CNY 14,650 ($2,355) per metric ton. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($4.02) per kilogram.

At $752.00 per short ton, the price of US HDG finished the week down 0.7 percent.

US platinum bar prices were off slightly at $1,585 per ounce, down from $1,594 a week ago. The price of US palladium bar rose 0.4 percent over the past week to $745.00 per ounce. This was the fifth week in a row of increasing 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.

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