Chinese Aluminum Scrap Up After Three-Day Flat Spell

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Metal Prices, Premium

The day’s biggest mover broke away from a static phase with a 5.2 percent jump on Tuesday, July 2. After three changeless days, the price of Chinese aluminum scrap closed at CNY 12,840 ($2,093) per metric ton. The cash price of Chinese aluminum rose by 0.6 percent to CNY 14,450 ($2,355) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,050 ($2,290) per metric ton. The price of Chinese aluminum billet remained steady at CNY 13,900 ($2,266) per metric ton.

On the LME, the cash price of primary aluminum rose 1.3 percent to $1,754 per metric ton. At $1,793, the aluminum 3-month price finished the market day on the LME up 1.0 percent per metric ton. The Indian aluminum cash price showed little movement on Tuesday, hovering around INR 106.50 ($1.79) per kilogram.