Base Metals Update: China Aluminum Billet Price Closes Down

Current Aluminum Prices

On Tuesday, April 23, Chinese aluminum billet jumped up 2.1 percent, making it the day’s biggest increase. The cash price of Chinese aluminum fell 0.2 percent. The price of Chinese aluminum bar was unchanged. The price of Chinese aluminum scrap remained essentially flat.

On the LME, the primary aluminum cash price declined 1.6 percent to $1,841 per metric ton. The 3-month price of aluminum weakened by 1.5 percent on the LME, settling at $1,872 per metric ton.

The Indian aluminum cash price inched up 1.2 percent.

Current Copper Prices

The cash price of primary copper saw the biggest decline of the day, dropping 1.4 percent on the LME to close at $6,875 per metric ton on Tuesday, April 23. Yesterday on Tuesday price drop of 1.3 percent carried the copper 3-month price to a 30-day low of $6,916 per metric ton on the LME.

The price of US copper producer grade 122 fell to a 30-day low after shifting 0.5 percent. US copper producer grade 110 saw its price drop 0.5 percent as well. The price of US copper producer grade 102 fell 0.5 percent too yesterday. The Japanese copper cash price remained essentially flat.

Chinese copper prices were mixed for the day. After falling 1.2 percent, the price of Chinese copper wire reached a 30-day low. The price of Chinese copper bar reached a 30-day low after decreasing 0.8 percent. The cash price of Chinese copper fell to a 30-day low after shifting 0.8 percent. The price of Chinese bright copper scrap was essentially unchanged.

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