Chinese Aluminum Scrap Improves
The day’s biggest mover broke away from a static phase with a 2.8 percent jump on Tuesday, May 7. After three changeless days, the price of Chinese aluminum scrap closed at CNY 12,880 ($2,088) per metric ton. The Chinese aluminum cash price rose 0.2 percent to CNY 14,510 ($2,353) per metric ton. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining around CNY 14,050 ($2,278) per metric ton. The price of Chinese aluminum billet showed little movement yesterday at CNY 14,400 ($2,335) per metric ton.
The cash price of primary Indian aluminum gained 1.3 percent to finish at INR 99.90 ($1.84) per kilogram. The aluminum 3-month price flattened at $1,861 after two days of improvement on the LME. The primary aluminum cash price steadied at $1,827 per metric ton following two-days of increases on the LME.