Chinese Aluminum Scrap on the Rise

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Metal Prices, Premium

Following a two-day flat streak, the price of Chinese aluminum scrap climbed by 8.6 percent to end at CNY 12,680 ($2,072) per metric ton on Thursday, September 5. The Chinese aluminum cash price saw little change in its price yesterday at CNY 14,335 ($2,342) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,320) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 14,300 ($2,337) per metric ton.

The primary aluminum cash price saw a 1.6 percent decline on the LME to $1,744 per metric ton. The 3-month price of aluminum weakened by 1.3 percent on the LME, settling at $1,796 per metric ton. The cash price of primary Indian aluminum fell 0.9 percent to INR 115.85 ($1.74) per kilogram.