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The cash price of primary copper saw a 1.5 percent decline on the LME, finishing at $8,045 per metric ton and making it the week’s biggest mover on the Copper MMI. Closing out the third week of declining prices, the 3-month price of primary copper dropped by 1.4 percent on the LME, finishing at $8,004 per metric ton.

Chinese copper prices were mixed for the week. The cash price of Chinese primary copper rose 1.3 percent on the SHFE to CNY 58,670 ($9,307) per metric ton after falling 4.1 percent during the week prior. The price of Chinese copper wire rose 1.3 percent to CNY 57,525 ($9,125) per metric ton after falling 4.4 percent during the week prior. Chinese bright copper scrap saw a 1.1 percent decline over the past week to CNY 49,950 ($7,923) per metric ton.

The cash price of Japanese primary copper declined to JPY 689,000 ($8,432) per metric ton after shifting one percent since last week. The price of US copper producer grade 110 fell 0.2 percent over the past week to $6.62 per pound. This was the third week in a row of declining prices for 110-grade copper. The price of US copper producer grade 102 declined 0.1 percent over the past week, settling at $6.81 per pound. Prices for Korean copper strip remained constant, closing the week at KRW 10,850 ($9) per kilogram.

Chinese 316 stainless steel scrap saw a 3.3 percent drop on April 20, 2012, landing at CNY 17,700 ($2,807) per metric ton and making it the biggest mover of that day in the stainless steel market.

The price of Chinese 304 stainless steel scrap nudged up 0.5 percent last Friday, closing at CNY 18,600 ($2,950) per metric ton. The price of Chinese 304 stainless coil moved up 0.5 percent, landing at CNY 18,600 ($2,950) per metric ton. The price of Chinese primary nickel saw little movement last Friday, closing out around CNY 130,500 ($20,701) 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-moly held steady at CNY 145,000 ($23,001) per metric ton. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,316) per metric ton.

The 3-month price of nickel closed Friday at $17,670 per metric ton, halting its flat run with a 0.8 percent fall on the LME. The price of primary nickel saw a 0.6 percent decline on the LME to $17,605 per metric ton.

At $672.00 per ounce, US palladium bar moved up 1.5 percent on April 20, 2012, the day’s biggest change in precious metals prices. The price of Japanese palladium bar finished the day at JPY 1,748 ($21) per gram following a 1.1 percent increase. Chinese palladium bar prices inched up 0.6 percent to CNY 161.00 ($25.54) per gram.

Indian gold bullion prices rose 0.5 percent to INR 28,563 ($547) per 10 grams. The price of Japanese gold bullion increased 0.5 percent to JPY 4,318 ($52) per gram. US gold bullion prices saw a 0.1 percent decline to $1,644 per ounce. At CNY 334.75 ($53.10), the price of Chinese gold bullion finished the market day up 0.1 percent per gram.

The price of Indian silver moved up 0.9 percent, landing at INR 56,333 ($1,080) per kilogram . The price of US silver fell 0.4 percent to $31.74 per ounce. After a 0.3 percent increase, Chinese silver finished the day at CNY 6,615 ($1,049) per kilogram. At JPY 815.00 ($9.97) per 10 grams, the price of Japanese silver was essentially unchanged.

Chinese platinum bar prices saw a 0.4 percent decline to CNY 339.50 ($53.86) per gram. Japanese platinum bar saw its price rise 0.2 percent to JPY 4,141 ($50) per gram. The price of US platinum bar held steady at $1,581 per ounce.

Last Friday’s biggest mover was the LME steel billet spot price, which dropped by 2.9 percent on April 20, 2012 to close at $476 per metric ton. Also on the LME, the 3-month price of steel billet showed little movement last Friday, hovering around $505 per metric ton.

Chinese steel prices were flat for the day. The prices of iron ore 58% fines from India ranged from CNY 870 ($138) to CNY 880 ($139) per dry metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,780 ($282) per metric ton. The price of Chinese slab also kept steady at CNY 4,400 ($697) per metric ton.

The US HRC futures contract 3-month price fell 0.7 percent to $675 per short ton. The US HRC futures contract spot price has been on the decline for thirteen days and is now at $687 per short ton.

On April 20, 2012, Indian primary aluminum jumped up 0.9 percent, landing at INR 106.05 ($2.03) per kilogram and making it the day’s biggest increase. The cash price of primary aluminum weakened on the LME by 0.6 percent, settling at $2,016 per metric ton. Also on the LME, the 3-month price of primary aluminum declined 0.6 percent to $2,056 per metric ton.

Chinese aluminum prices closed mixed last Friday. Following a couple of essentially changeless days, the cash price of Chinese primary aluminum rose by 0.1 percent on the SHFE, closing at CNY 16,020 ($2,541) per metric ton. The price of Chinese aluminum scrap held steady at CNY 16,650 ($2,641) per metric ton. Chinese aluminum billet stayed flat at around CNY 16,050 ($2,546) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,050 ($2,228) per metric ton.

On the LME, the cash price of primary copper declined 0.5 percent to $8,045 per metric ton last Friday, April 20, 2012. The 3-month price of primary copper weakened on the LME by 0.4 percent, settling at $8,004 per metric ton.

The cash price of Japanese primary copper increased slightly to close at JPY 689,000 ($8,432) per metric ton. The price of US copper producer grade 110 held steady at $6.62 per pound. At $6.81 per pound, the price of US copper producer grade 102 was essentially unchanged.

Prices for Chinese copper were up for the day. The price of Chinese bright copper scrap finished the day at CNY 49,950 ($7,923) per metric ton following a 0.5 percent increase. On the SHFE, the cash price of Chinese primary copper rose 0.3 percent to CNY 58,670 ($9,307) per metric ton. Chinese copper wire gained 0.1 percent to finish at CNY 57,525 ($9,125) per metric ton.

After Flat Days, 3-Month Aluminum Price Drops 0.9%

The 3-month price of primary aluminum experienced the biggest price shift of the day in aluminum prices, dropping 0.9 percent on the LME to close at $2,068 per metric ton on April 19, 2012. The cash price of primary aluminum saw a 0.6 percent decline on the LME to $2,028 per metric ton. Indian aluminum primary prices saw a 0.5 percent decline to INR 105.15 ($2.03) per kilogram.

Chinese aluminum prices were flat for the day. For the fifth straight day, the price of Chinese aluminum scrap held flat at CNY 16,650 ($2,643) per metric ton. Chinese aluminum billet held its value on Thursday at CNY 16,050 ($2,548) per metric ton. The price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,230) per metric ton. The cash price of Chinese primary aluminum held steady on Thursday on the SHFE, remaining around CNY 16,000 ($2,540) per metric ton.

Cash Price of Primary Aluminum Falls 2% for the Week

After falling two percent, the cash price of primary aluminum landed at $2,028 per metric ton on the LME, making it the week’s biggest mover in the aluminum market. The 3-month price of primary aluminum declined 1.9 percent on the LME over the past week to $2,068 per metric ton. Indian primary aluminum saw a 1.1 percent decline over the past week to INR 105.15 ($2.03) per kilogram.

Chinese aluminum prices held steady overall for the week. At CNY 16,000 ($2,540) per metric ton, the cash price of Chinese primary aluminum remained essentially flat on the SHFE. Chinese aluminum bar held steady from the previous week at CNY 14,050 ($2,230) per metric ton. At CNY 16,050 ($2,548) per metric ton, the price of Chinese aluminum billet was essentially unchanged from the previous week.

Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,210 ($3) per kilogram. At KRW 4,360 ($3) per kilogram, the price of Korean 5052 coil premium over 1050 sheet was essentially unchanged from the previous week. European 5083 plate remained essentially flat from the previous week at EUR 3,038 ($3,989) per metric ton. European 1050 aluminum held steady from the previous week at EUR 2,415 ($3,171) per metric ton.

On April 19, 2012, the price of Chinese primary nickel fell by 0.8 percent, making it the day’s biggest mover in the market of stainless steel inputs.

On the LME, the primary nickel spot price declined 0.2 percent to $17,720 per metric ton. Also on the LME, the 3-month price of nickel showed little movement on Thursday, hovering around $17,810 per metric ton.

For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,317) per metric ton. The price of Chinese ferro-moly held steady as well at CNY 145,000 ($23,020) per metric ton.

Chinese Stainless Holds

The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 18,500 ($2,937) per metric ton. Chinese 316 stainless steel scrap stayed flat at around CNY 18,300 ($2,903) per metric ton. The price of Chinese 304 stainless coil remained steady at CNY 18,500 ($2,937) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 32,000 ($5,080) per metric ton.

 

US silver saw a 1.1 percent increase on April 19, 2012, reaching $31.87 per ounce and making it the biggest upwards shift of the day in the precious metals sphere. The price of Japanese silver fell 0.6 percent to JPY 815.00 ($10.01) per 10 grams. Chinese silver prices saw a 0.4 percent decline to CNY 6,595 ($1,047) per kilogram. The price of Indian silver remained steady at INR 55,827 ($1,077) per kilogram.

The price of Japanese gold bullion fell 0.7 percent to JPY 4,298 ($52) per gram. Thursday saw the price of Chinese gold bullion shift 0.6 percent to CNY 334.40 ($53.09) per gram after three quiet days. Indian gold bullion prices saw a 0.2 percent decline to INR 28,410 ($548) per 10 grams. US gold bullion gained 0.2 percent to finish at $1,647 per ounce.

Chinese platinum bar prices fell 0.4 percent to CNY 341.00 ($54.14) per gram. Japanese platinum bar prices saw a 0.1 percent decline to JPY 4,133 ($50) per gram. US platinum bar stayed flat at around $1,581 per ounce.

The price of Chinese palladium bar fell 0.3 percent to CNY 160.00 ($25.40) per gram. US palladium bar prices inched up 0.2 percent to $662.00 per ounce. Japanese palladium bar saw little change in its price on Thursday at JPY 1,729 ($21) per gram.

The cash price of Japanese primary copper rose 1.9 percent to close at JPY 687,000 ($8,410) per metric ton on April 19, 2012. US copper producer grade 110 prices saw a 0.3 percent decline to $6.62 per pound. The price of US copper producer grade 102 fell 0.3 percent to $6.81 per pound.

Chinese copper prices closed mixed on Thursday. Chinese copper wire saw its price rise 0.6 percent to CNY 57,450 ($9,121) per metric ton. The cash price of Chinese primary copper on the SHFE gained 0.2 percent to finish at CNY 58,500 ($9,287) per metric ton. Chinese bright copper scrap held its value on Thursday at CNY 49,700 ($7,890) per metric ton.

On the LME, the 3-month price of primary copper rose 0.2 percent to $8,035 per metric ton. The cash price of primary copper saw a 0.2 percent decline on the LME to $8,085 per metric ton.

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