Chinese Aluminum Scrap Falls 4.6%

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Metal Prices, Premium

Chinese aluminum scrap saw the biggest price decline of the day, dropping 4.6 percent to close at CNY 12,210 ($1,989) per metric ton on Monday, June 24. Following two days of downward movement, the cash price of Chinese aluminum held steady at CNY 14,420 ($2,349) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,288) per metric ton. The price of Chinese aluminum billet remained steady at CNY 14,400 ($2,345) per metric ton.

The cash price of primary Indian aluminum fell 3.3 percent to INR 103.25 ($1.74) per kilogram. The 3-month price of aluminum held steady yesterday on the LME, remaining around $1,793 per metric ton. After dropping for two days on the LME, the cash price of primary aluminum flattened at $1,748.