Chinese Aluminum Scrap Weakens 3.5%

The price of Chinese aluminum scrap fell 3.5 percent on Wednesday, December 25, making it the day’s biggest mover. After three days of flat prices, it closed at CNY 11,770 ($1,939) per metric ton. The Chinese aluminum cash price fell 0.4 percent to a 30-day low of CNY 14,040 ($2,312) per metric ton yesterday. The price of Chinese aluminum bar was unchanged at CNY 14,200 ($2,339) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 14,200 ($2,339) per metric ton.

On the LME, the 3-month price of aluminum fell 0.5 percent to $1,755 per metric ton. The cash price of primary aluminum saw a 0.5 percent decline on the LME to $1,709 per metric ton. The Indian aluminum cash price showed little movement yesterday at INR 110.50 ($1.79) per kilogram.

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