LME Aluminum Cash Price Sees Small Jump, China Scrap Price Flat

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On Friday, August 1, the day’s biggest mover was the cash price of primary aluminum, which saw a 1.7 percent increase on the LME to $2,016 per metric ton. On the LME, the aluminum 3-month price inched up 1.4 percent to $2,020 per metric ton. Following a couple days of improvement, the Indian aluminum cash price weakened by 0.7 percent. Prices closed at INR 122.10 ($2.01) per kilogram.

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Chinese aluminum prices were flat for the day. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat at CNY 12,250 ($1,984) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,590 ($2,201) per metric ton. The price of Chinese aluminum bar was unchanged at CNY 14,200 ($2,300) per metric ton. The cash price of Chinese aluminum held steady last Friday, remaining around CNY 13,930 ($2,256) per metric ton.

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