Meanwhile, LME aluminum prices fell on MetalMiner’s daily index, as the cash price of Chinese aluminum bumped up a bit.
“Alcoa Tennessee Operations will break ground Thursday on the expansion of its aluminum rolling mill to accommodate automotive sheet production,” according to a Knoxville news station. “Over the next three years, the company expects to invest $275 million in the project to meet the growing demand of the auto manufacturing industry.”
Today’s Aluminum Market Prices
The cash price of primary aluminum fell 1.2 percent on Monday, August 26 to $1,834 per metric ton on the LME, making it the day’s biggest mover. The 3-month price of aluminum saw a 1.2 percent decline on the LME to $1,881 per metric ton.
The cash price of primary Indian aluminum showed little movement on Monday.
Chinese aluminum closed mixed on Monday. After rising 0.3 percent, Chinese cash prices marked the fifth day in a row of improvement. The price of Chinese aluminum scrap was essentially unchanged. The price of Chinese aluminum billet held steady. The price of Chinese aluminum bar continues hovering in place for the fifth day in a row.