Chinese Aluminum Scrap Experiences Large Decrease

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Metal Prices, Premium

On Tuesday, August 27, Chinese aluminum scrap fell by 4.1 percent to CNY 12,245 ($2,001) per metric ton, making it the day’s biggest mover. The Chinese aluminum cash price declined 0.2 percent to CNY 14,410 ($2,355) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,200 ($2,320) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese aluminum billet held flat at CNY 14,400 ($2,353) per metric ton.

After a 1.2 percent increase, the cash price of primary Indian aluminum finished the day at INR 120.05 ($1.87) per kilogram. On the LME, the aluminum 3-month price showed little movement yesterday, hovering around $1,881 per metric ton. On the LME, the primary aluminum cash price held steady around $1,834 per metric ton.