LME Aluminum Prices Dropping This Week, Asian Prices Steady

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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 drop as well.

Chinese aluminum prices did not change yesterday. For the fifth straight day, the price of Chinese aluminum scrap held flat at above $2,600 per metric ton. Chinese aluminum billet held its value on Thursday at above $2,500 per metric ton. The price of Chinese aluminum bar remained essentially flat at above $2,200 per metric ton. The SHFE cash price of Chinese primary aluminum held steady on Thursday, 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 LME cash price of primary aluminum landed at $2,028 per metric ton, making it the week’s biggest mover on 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.

Chinese aluminum prices held steady overall for the week. At CNY 16,000 ($2,540) per metric ton, the SHFE cash price of Chinese primary aluminum remained essentially flat. Chinese aluminum bar held steady from the previous week at above $2,200 per metric ton. At above $2,500 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 unchanged from the previous week, as did the price of Korean 5052 coil premium over 1050 sheet. European 5083 plate remained flat from the previous week as well at under $4,000 per metric ton. European 1050 aluminum held steady from the previous week, closing out above $3,100 per metric ton.

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