CME Aluminum Futures Contract Makes First Delivery

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The CME Group’s aluminum futures contract had its first customer take physical delivery of aluminum this week.

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CME Group is now in the delivery period for its July 2014 COMEX physically delivered aluminum futures contract, and, for the first time, a customer has chosen to take physical delivery of aluminum against the new ALI contract. A total of 201 metric tons (8 contracts) of material were warranted and available for delivery today, July 11. The clearing firms were ABN and Mizuho.

The CME Group’s aluminum futures contract debuted in May.

Rising 0.7 percent to close at $1,924 per metric ton, the aluminum cash price experienced the biggest change on the LME for Thursday, July 10. The cash price of primary Indian aluminum declined 0.5 percent, after two days of improvement. After a 0.4 percent increase, the 3-month price of aluminum finished the day on the LME at $1,950 per metric ton.

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Chinese aluminum prices were flat for the day. The cash price of Chinese aluminum remained essentially flat. The price of Chinese aluminum scrap held steady. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row. The price of Chinese aluminum bar was unchanged.

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