Chinese Aluminum Scrap Breaks Flat Spell

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Metal Prices, Premium

The price of Chinese aluminum scrap closed April 1, 2013 at CNY 12,265 ($1,974) per metric ton, halting its three-day flat run with a 1.4 percent drift. After three straight days of no change, the price of Chinese aluminum billet decreased by 0.7 percent to CNY 14,350 ($2,309) per metric ton. The cash price of Chinese aluminum fell 0.4 percent to CNY 14,420 ($2,321) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,261) per metric ton.

The cash price of primary Indian aluminum saw little movement yesterday, closing out around INR 102.30 ($1.88) per kilogram. The aluminum 3-month price held steady yesterday on the LME, remaining around $1,910 per metric ton. On the LME, the primary aluminum cash price saw little movement on Monday at $1,881 per metric ton.