Chinese Aluminum Scrap Moving Again

The price of Chinese aluminum scrap rose 4.0 percent on Thursday, November 14, making it the day’s biggest mover. After two days of flat prices, it closed at CNY 12,740 ($2,091) per metric ton. After remaining flat for three days, the price of Chinese aluminum billet fell 0.3 percent on Thursday to CNY 14,350 ($2,355) per metric ton. The cash price of Chinese aluminum dropped by 0.1 percent to CNY 14,390 ($2,362) per metric ton after holding steady. The price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,330) per metric ton.

On the LME, the cash price of primary aluminum fell 0.5 percent to $1,746 per metric ton. The aluminum 3-month price saw a 0.4 percent decline on the LME to $1,794 per metric ton. After improving for two days, the Indian aluminum cash price declined 0.1 percent to INR 114.60 ($1.81) per kilogram.

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