Chinese Aluminum Scrap Price Drops 1.4%

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Chinese aluminum scrap saw the biggest price decline of the day, dropping 1.4 percent to close at CNY 11,625 ($1,869) per metric ton on March 7, 2013. After a 0.4 percent increase, the cash price of Chinese aluminum finished the day at CNY 14,480 ($2,328) per metric ton. Chinese aluminum billet prices rose 0.3 percent to CNY 14,400 ($2,315) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,050 ($2,259) per metric ton for the fifth day in a row.

The cash price of primary Indian aluminum weakened by 0.9 percent, settling at INR 104.55 ($1.91) per kilogram. After improving for two days, the cash price of primary aluminum declined 0.8 percent on the LME to $1,927 per metric ton. The 3-month price of aluminum closed at $1,969 per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.8 percent on the LME.