Divergent aluminum price trends continue.
According to our friends at Harbor Aluminum, they expect both higher ingot and billet premiums. The US MW P1020 spot ingot premiums are quoted in the 11.60-12.50 cent/lb range and the US MW 6063 billet up-charge remain in the 11.50-12.50 cent/lb range.
On Monday, June 10, the cash price of primary Indian aluminum fell by 0.8 percent, making it the day’s biggest mover. On the LME, the 3-month price of aluminum inched up 0.6 percent to $1,968 per metric ton. At $1,933, the primary aluminum cash price finished the market day on the LME up 0.3 percent per metric ton.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap remained essentially flat. The price of Chinese aluminum billet flattened after two days of improvement. The price of Chinese aluminum bar was unchanged. The Chinese aluminum cash price steadied as well following two-days of increases.