Chinese Aluminum Exports Also Hit a New High

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Aluminum shipments from China, the world’s largest producer and user, rose to the highest level in three years as higher prices overseas encouraged exports of the metal used in everything from aircraft to window frames, Bloomberg News reported.

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China shipped 380,000 metric tons of unwrought aluminum and aluminum products in July, according to data released by the country’s General Administration of Customs today. That was the highest since 390,000 tons in July 2011 and up 23 percent from a year earlier, customs data showed.

On Friday, August 8, the day’s biggest mover was the cash price of primary aluminum, which saw a 1.6 percent increase on the LME to $2,014 per metric ton. After a 1.5 percent increase, the aluminum 3-month price finished the day on the LME at $2,023 per metric ton. The Indian aluminum cash price weakened by 0.2 percent, settling at INR 125.00 ($2.04) per kilogram.

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Chinese aluminum prices closed flat for the day. For the fifth consecutive day, the price of Chinese aluminum scrap held flat at CNY 12,250 ($1,988) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 13,590 ($2,205) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,200 ($2,304) per metric ton. The cash price of Chinese aluminum held steady around CNY 13,960 ($2,265) per metric ton.

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