LME Aluminum Prices Drop for the Week

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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.

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