Daily Aluminum Update: Chinese Cash Price Increases

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The Chinese primary aluminum cash price saw a 0.6 percent increase on May 3, 2012, reaching CNY 16,200 ($2,581) per metric ton on the SHFE and making it the biggest mover for the day on aluminum markets.

The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining above $2,200 per metric ton. The price of Chinese aluminum billet remained essentially flat, below $2,600 per metric ton. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat above $2,600 per metric ton.

The price of Indian aluminum primary declined 0.5 percent. The LME cash price of primary aluminum declined 0.1 percent to $2,064 per metric ton. Also on the LME, the 3-month price of primary aluminum showed little movement on Thursday, hovering around $2,107 per metric ton.

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