Bosnia to Help Aluminij Mostar Settle Debt; Chinese Aluminum Billet Drops 1.4%

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It looks as though Aluminij Mostar will not close. “Bosnia’s regional government has proposed to help smelter Aluminij Mostar settle a debt to the state-run power utility and stave off closure. The company is struggling with a metal surplus and high power prices,” reports Reuters.

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On Thursday, October 17, the day’s biggest mover was the price of Chinese aluminum billet, which saw a 1.4 percent decline. This was the first move after three changeless days. The cash price of Chinese aluminum declined 0.4 percent. For the fifth consecutive day, the price of Chinese aluminum bar held flat. The price of Chinese aluminum scrap showed little movement on Thursday.

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The 3-month price of aluminum saw a 1.1 percent decline on the LME to $1,835 per metric ton. On the LME, the primary aluminum cash price fell 1.0 percent to $1,787 per metric ton. The cash price of primary Indian aluminum rose 0.3 percent to INR 110.60 ($1.80) per kilogram after a two-day drop.