Japanese Aluminum Stockpiles Drop; Primary Indian Aluminum Price Improves

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Trading company Marubeni Corp. said by e-mail to Bloomberg today that aluminum stockpiles in Japan declined 7.4 percent in September, which is the most in three months.

“Inventories held in Yokohama, Nagoya and Osaka ports decreased to 242,300 metric tons at the end of last month from 261,600 tons on Aug. 31, according to Marubeni. The volume reached in July the lowest level since June, 2012.”

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The cash price of primary Indian aluminum saw the biggest increase at 0.9 percent for Monday, October 14. The 3-month price of aluminum saw a 0.6 percent decline on the LME to $1,875 per metric ton. On the LME, the cash price of primary aluminum fell 0.5 percent to $1,830 per metric ton.

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Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum declined 0.1 percent. The price of Chinese aluminum scrap showed little movement yesterday. Chinese aluminum billet saw little change in its price yesterday. The price of Chinese aluminum bar continues to hover for the fifth day in a row.