Prices Improve for Chinese Aluminum Scrap

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Metal Prices, Premium

Strengthening prices ended a three-day flat streak as the price of Chinese aluminum scrap moved up by 1.4 percent on Thursday, May 23 to CNY 13,030 ($2,124) per metric ton. After a few days of little change, the price of Chinese aluminum billet jumped 0.3 percent, landing at CNY 14,500 ($2,364) per metric ton. The cash price of Chinese aluminum held steady around CNY 14,610 ($2,382) 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 ($2,290) per metric ton.

The Indian aluminum cash price rose 0.2 percent to INR 102.25 ($1.84) per kilogram. At $1,871, the aluminum 3-month price finished the market day on the LME up 0.2 percent per metric ton. On the LME, the cash price of primary aluminum inched up 0.1 percent to $1,837 per metric ton.