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The cash price of steel billet saw the biggest increase at 0.6 percent on the LME, finishing at $475 per metric ton for April 24, 2012. The LME steel billet 3-month price held steady on Tuesday, remaining around $490 per metric ton.

Chinese steel prices closed flat for the day. Iron ore 58% fines from India ranged from CNY 870 ($137) to CNY 880 ($139) per dry metric ton. The price of Chinese coking coal saw little movement at CNY 1,780 ($282) per metric ton. The price of Chinese slab ended up even on Tuesday at CNY 4,390 ($696) per metric ton.

Tuesday saw the US HRC futures contract spot price shift 0.3 percent to $685 per short ton after a couple of still days. At $673 per short ton, the US HRC futures contract 3-month price held fast after a two-day decline.

Silver and Gold Price Activity

On April 24, 2012, Chinese silver finished the day down 2.1 percent to CNY 6,465 ($1,025) per kilogram, making it the day’s biggest mover in the precious metals market. Following a 1.8 percent rise yesterday, the price of US silver closed at $31.10 per ounce. The price of Japanese silver fell 1.7 percent to JPY 795.00 ($9.80) per 10 grams. The price of Indian silver declined one percent to INR 55,618 ($1,057) per kilogram.

The price of US gold bullion rose 1.3 percent to $1,648 per ounce after a two-day drop. At JPY 4,260 ($52) per gram, Japanese gold bullion fell one percent on Tuesday. At INR 28,813 ($548), the price of Indian gold bullion finished the market day up 0.6 percent per 10 grams. Chinese gold bullion closed 0.3 percent lower at CNY 333.73 ($52.93) per gram.

PGM Price Activity

Chinese platinum bar prices saw a 1.3 percent decline to CNY 335.50 ($53.21) per gram. US platinum bar stayed flat at around $1,552 per ounce.

US palladium bar prices rose 1.2 percent to $672.00 per ounce. The price of Japanese palladium bar changed direction with a 0.2 percent drop. After two days of improving prices, the finished at JPY 1,751 ($21) per gram. At CNY 163.00 ($25.85) per gram, the price of Chinese palladium bar changed its two-day flat trend.

With a decline of 1.1 percent to $2,011 per metric ton on April 24, 2012, LME primary aluminum cash prices recorded the biggest shift of the day. Also on the LME, the primary aluminum 3-month price declined 1.1 percent to $2,054 per metric ton. Indian aluminum primary prices inched up 0.8 percent to INR 107.00 ($2.04) per kilogram.

Chinese aluminum prices closed mixed yesterday. At CNY 16,050 ($2,545), the Chinese primary aluminum cash price finished the market day on the SHFE up 0.1 percent per metric ton. The price of Chinese aluminum scrap held steady at CNY 16,650 ($2,640) per metric ton. Chinese aluminum billet was unmoved at CNY 16,100 ($2,553) per metric ton. The price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,228) per metric ton.

Closing at CNY 4,650 ($737) per kilogram, dysprosium oxide rose 5.7 percent to finish as the week’s biggest mover on the rare earth metals market. The past week saw praseodymium neodymium oxide close at CNY 440,000 ($69,807) per metric ton after a 3.3 percent decline. Cerium oxide remained essentially flat from the previous week at CNY 87,500 ($13,882) per metric ton.

Europium oxide remained unchanged for the week, closing at CNY 8,600 ($1,364) per kilogram. Following a steady week, prices for lanthanum oxide closed flat at CNY 82,500 ($13,088) per metric ton. Prices for neodymium remained constant, closing the week at CNY 715,000 ($113,436) per metric ton.

At CNY 545,000 ($86,465) per metric ton, the week finished with no movement for praseodymium oxide. Rare earth carbonate prices held steady from the previous week at CNY 69,000 ($10,947) per metric ton. Samarium oxide remained essentially flat from the previous week at CNY 90,000 ($14,278) per metric ton. Closing at CNY 8,750 ($1,388) per kilogram, terbium metal remained unchanged for the week.

Terbium oxide traded sideways last week, hovering around CNY 6,350 ($1,007) per kilogram. Closing at CNY 170,000 ($26,971) per metric ton, yttria remained unchanged for the week. Yttrium remained essentially flat from the previous week at CNY 690 ($109) per kilogram.

The price of Chinese palladium bar rose 5.2 percent to CNY 163.00 ($25.86) per gram after falling 1.3 percent during the week prior, making it the week’s biggest mover on the precious metals markets. The price of Japanese palladium bar rose five percent to JPY 1,755 ($21) per gram after falling 2.2 percent during the week prior. The price of US palladium bar increased by 2.8 percent over the past week to $664.00 per ounce.

This past week, Japanese platinum bar increased 1.5 percent. Closing out the third week of declining prices, the price of US platinum bar dropped by 1.3 percent, finishing at $1,551 per ounce. The price of Chinese platinum bar rose 0.4 percent to CNY 340.00 ($53.94) per gram after falling 2.3 percent during the week prior.

Following a 0.5 percent increase during the week prior, the price of US gold bullion fell 1.5 percent last week to $1,627 per ounce. The price of Japanese gold bullion rose 0.8 percent to JPY 4,301 ($52) per gram after falling one percent during the week before. In the past week, Indian gold bullion saw its price drift up 0.8 percent to INR 28,642 ($549) per 10 grams. The price of Chinese gold bullion fell 0.5 percent to CNY 334.70 ($53.10) per gram after rising 0.6 percent during the week prior.

The price of US silver fell 3.1 percent over the past week to $30.56 per ounce. This was the third week in a row of declining prices. The price of Indian silver rose 1.1 percent to INR 56,175 ($1,078) per kilogram after falling 0.5 percent during the week prior. The price of Japanese silver rose 0.4 percent to JPY 809.00 ($9.90) per 10 grams after falling 3.8 percent during the week prior. The price of Chinese silver rose 0.3 percent to CNY 6,605 ($1,047) per kilogram after falling 0.5 percent during the week prior.

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On April 23, 2012, the day’s biggest mover in the stainless steel markets was Chinese 316 stainless steel scrap, which saw a 2.3 percent increase to CNY 18,100 ($2,871) per metric ton.

The price of Chinese 304 stainless steel scrap remained steady at CNY 18,600 ($2,950) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 18,600 ($2,950) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 32,000 ($5,076) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,316) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,004) per metric ton.

After falling for two days, the primary nickel price rose 0.8 percent on the LME to $17,750 per metric ton. Also on the LME, the 3-month price of nickel rose 0.7 percent to $17,800 per metric ton. The price of Chinese primary nickel gained 0.6 percent to finish at CNY 131,250 ($20,823) per metric ton.

On April 23, 2012, the 3-month price of steel billet fell by three percent on the LME, landing at $490 per metric ton and making it the day’s biggest mover on in steel prices. Also on the LME, the cash price of steel billet declined 0.8 percent to $472 per metric ton.

Chinese steel prices were mixed for the day. Iron ore 58% fines from India ranged from CNY 870 ($138) to CNY 880 ($139) per dry metric ton. After remaining flat for three days, the price of Chinese slab fell 0.2 percent on Monday to CNY 4,390 ($696) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,780 ($282) per metric ton.

The US HRC futures contract 3-month price weakened by 0.3 percent, settling at $673 per short ton. The spot price of US HRC futures contract has been on the decline for thirteen days and is now at $687 per short ton.

The US copper producer grade 110 price saw a 1.1 percent increase on April 23, 2012, reaching $6.69 per pound and making it the biggest upwards shift of the day. At $6.88 per pound, the price of US copper producer grade 102 finished the market day up one percent. The cash price of Japanese primary copper saw a 0.1 percent decline to JPY 688,000 ($8,418) per metric ton.

Chinese copper prices closed mixed on Monday. Chinese bright copper scrap finished the day up 0.4 percent to CNY 50,150 ($7,956) per metric ton. Chinese copper wire prices inched up 0.2 percent to CNY 57,625 ($9,142) per metric ton. Following a two-day rise on the SHFE, the cash price of Chinese primary copper flattened at CNY 58,680 ($9,309).

On the LME, the 3-month price of primary copper increased one percent to $8,082 per metric ton. Following a 0.9 percent rise on Monday, the cash price of primary copper closed on the LME at $8,120 per metric ton.

On April 23, 2012, the day’s biggest mover in aluminum markets was the 3-month price of primary aluminum, which saw a one percent increase on the LME to $2,076 per metric ton. After falling for two days, the cash price of primary aluminum rose 0.9 percent on the LME to $2,034 per metric ton. Indian aluminum primary gained 0.1 percent to finish at INR 106.20 ($2.04) per kilogram.

Chinese aluminum prices closed mixed on Monday. Following three days of little change, the price of Chinese aluminum billet rose by 0.3 percent to CNY 16,100 ($2,554) per metric ton. On the SHFE, the cash price of Chinese primary aluminum held steady around CNY 16,030 ($2,543) per metric ton. The price of Chinese aluminum scrap remained even at CNY 16,650 ($2,641) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,050 ($2,229) per metric ton.

This past week saw the primary nickel price drop 4.3 percent on the LME, closing as the biggest mover in the stainless steel market at $17,605 per metric ton. The past week saw the 3-month price of nickel close at $17,670 per metric ton after a 4.3 percent decline on the LME.

Prices of Chinese stainless steel and its inputs were mixed for the week. At CNY 8,300 ($1,316) per metric ton, the week finished with no movement for Chinese ferro-chrome. Chinese ferro-moly prices held steady from the previous week at CNY 145,000 ($23,001) per metric ton.

Chinese 316 stainless steel scrap dropped 3.8 percent over the past week to CNY 17,700 ($2,807) per metric ton. Since last week, the price of Chinese primary nickel fell to CNY 130,500 ($20,701) per metric ton, moving 0.8 percent. Chinese 304 stainless steel scrap remained essentially flat from the previous week at CNY 18,600 ($2,950) per metric ton. Chinese 304 stainless coil traded sideways last week, hovering around CNY 18,600 ($2,950) per metric ton. Prices for Chinese 316 stainless coil remained constant, closing the week at CNY 32,000 ($5,076) per metric ton.

Closing at KRW 2.6 million ($2,268) per metric ton, Korean 430 stainless steel coil remained unchanged for the week. Following a steady week, prices for Korean 304 stainless coil closed flat at KRW 4.2 million ($3,705) per metric ton.

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