Rio Tinto Invests in Aluminum Plant While Aluminum Prices Drop

by on

Energy costs remain front and center for aluminum producers as Rio Tinto invests big on energy savings and efficiency improvements for plant in France. Europe suffers from a double-whammy of weak demand and increasingly uncompetitive energy prices.

The aluminum cash price saw the biggest decline of the day, dropping 2.6 percent on the LME to close at $1,883 per metric ton. The 3-month price of aluminum saw a 2.3 percent decline on the LME to $1,923 per metric ton. The cash price of primary Indian aluminum remained essentially flat.

Chinese aluminum prices closed flat for the day. For the fifth day in a row, the price of Chinese aluminum scrap also remained essentially flat but over the $2100 per metric ton range.  The price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar held steady as did the Chinese aluminum cash price.
FREE Download: The most recent Monthly MMI® Report – price trends for 10 metal markets!