After Flat Days, Chinese Aluminum Scrap Drops 2.8%

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Metal Prices, Premium

 The price of Chinese aluminum scrap fell 2.8 percent on Friday, June 21 to CNY 12,795 ($2,087) per metric ton, making it the day’s biggest mover. The price of Chinese aluminum billet dropped by 1.7 percent to CNY 14,400 ($2,349) per metric ton after holding steady. The cash price of Chinese aluminum weakened by 1.1 percent, settling at CNY 14,420 ($2,352) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,050 ($2,292) per metric ton for the fifth day in a row.

Primary cash aluminum saw its price drop on the LME 2.5 percent to a 30-day low of $1,748 per metric ton last Friday. After a 2.3 percent increase, the Indian aluminum cash price finished the day at INR 106.80 ($1.79) per kilogram. The 3-month price of aluminum reached a 30-day low on the LME after decreasing 2.3 percent to $1,794 per metric ton.