CME Aluminum Futures Contract Gains Trading Volume

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Last Friday 1,800 lots, approximately 45,000 metric tons, of the CME Group‘s Aluminum Midwest Premium (AUP) futures contract traded.

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In a week of extreme volatility in commodity markets, AUP open interest closed at 4,884 lots, up from 2,559 lots at the end of the previous week.

The cash price of primary aluminum saw the biggest upwards shift for the day, rising 1.5% on the LME to close at $1,825 per metric ton on Tuesday, January 20. After improving for two days, the Indian aluminum cash price declined 0.4% to INR 113.05 ($1.83) per kilogram. On the LME, the aluminum 3-month price inched up 0.2% to $1,812 per metric ton.

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Chinese aluminum prices were mixed for the day. At CNY 12,300 ($1,978), the price of Chinese aluminum scrap finished the market day up 0.8% per metric ton. Weakening prices followed two days of improvement as the cash price of Chinese aluminum dropped 0.5% to CNY 12,780 ($2,056) per metric ton. Following two days of rising prices, the price of Chinese aluminum bar dropped 0.5% to CNY 12,790 ($2,057) per metric ton. For the fifth consecutive day, the price of Chinese aluminum billet held flat at CNY 13,200 ($2,123) per metric ton.

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