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.
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