aluminum price

Indian aluminum cash price saw a one percent drop on June 21, 2012, making it the biggest mover of the day on our daily aluminum price index. After a couple of days of decreasing prices on the LME, the primary aluminum cash price held steady at $1,879. On the LME, the aluminum 3-month price remained essentially flat at $1,920 per metric ton.

Meanwhile, Chinese aluminum prices were mixed for the day.

The cash price of Chinese aluminum weakened by 0.2 percent, while the price of Chinese aluminum scrap held steady at below $2,600 per metric ton. At under $2,500 per metric ton, the price of Chinese aluminum billet was essentially unchanged. For the fifth consecutive day, the price of Chinese aluminum bar held flat just north of $2,200 per metric ton.

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With the US auto market seeing declining car sales over the past three months or so, and the June sales report soon to come, we’ll have to see how the upcoming monthly Automotive MMI® for July fares.

For this week, however, closing at $7,565 per metric ton on the LME, a 2.3 percent increase made the copper cash price the biggest mover on the weekly Automotive MMI®. Last week, the 3-month price of copper shifted slightly on the LME, rising by 1.9 percent to close at $7,555 per metric ton.

The price of Chinese lead finished the week down 0.2 percent. Korean 5052 coil premium over 1050 aluminum sheet traded sideways last week.

The price of US HDG fell 0.8 percent over the past week, making this the third week in a row of declining prices.

Following a 3.1 percent increase in the week prior, the price of US platinum bar fell 1.9 percent last week to $1,451 per ounce. The price of US palladium bar fell 1.8 percent to $613.00 per ounce after rising 0.3 percent the week before.

The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends. For more information on the Automotive MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

On June 20, 2012, the day’s biggest mover on MetalMiner’s daily aluminum price index was the price of Chinese aluminum billet, which saw a 0.6 percent decline. This was the first shift after three changeless days.

The Chinese aluminum cash price, meanwhile, fell 0.3 percent. The price of Chinese aluminum bar saw little movement at above $2,200 per metric ton. The price of Chinese aluminum scrap continues hovering below $2,600 per metric ton for the fifth day in a row.

The cash price of primary Indian aluminum declined 0.2 percent.

The primary aluminum cash price saw a 0.2 percent decline on the LME to $1,878 per metric ton. Following two days of downward movement, the 3-month price of aluminum held steady at $1,920 per metric ton on the LME.

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Dropping 1.7 percent on the LME, the aluminum cash price was the biggest mover on our daily aluminum price index on June 19, 2012, closing at $1,881 per metric ton. The aluminum 3-month price saw a 1.5 percent decline on the LME to $1,921 per metric ton.

The cash price of primary Indian aluminum closed with a 0.5 percent rise on Tuesday.

Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum weakened by 0.8 percent; meanwhile, the price of Chinese aluminum scrap was unchanged at under $2,600 per metric ton.

The price of Chinese aluminum billet held steady, and for the fifth consecutive day, the price of Chinese aluminum bar held flat at above $2,200 per metric ton.

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The Chinese low price of 62% Australian iron ore fines saw the biggest increase on the weekly Construction MMI®, rising 5.4 percent.

Closing out the third week of declining prices, the price of US shredded scrap dropped by 3.1 percent, while the price of Chinese rebar rose 0.2 percent, after falling 0.2 percent during the previous week. Closing at north of $600 per metric ton, Chinese H-beam steel remained unchanged for the week.

Chinese aluminum bar traded sideways last week, hovering above $2,200 per metric ton. European 1050 aluminum remained essentially flat from the previous week, holding below $3,000 per metric ton.

The weekly US Midwest bar fuel surcharge fell four percent from the prior week. The weekly US Gulf Coast bar fuel surcharge declined 3.6 percent, and the weekly US Rocky Mountain bar fuel surcharge fell 3.2 percent from the previous week.

The Construction MMI® collects and weights 9 metal price points used within the construction industry to provide a unique view into construction industry price trends. For more information on the Construction MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Continued from Part One.

And yet with the cost of aluminum production notoriously high in China, even in the lower-cost western provinces, many analysts have been looking for production cutbacks in China as being the catalyst for a move to supply balance and higher prices.

Arguably China is a market unto itself. Tariffs or lack of export incentives make imports and exports of primary aluminum negligible in comparison to installed capacity, yet it is the hope that mass closures in China will force the country to import primary metal that has long been a plank of the expectation that prices would move higher over time.

Cote observes Chinese demand will likely be in the region of 9 percent per year as GDP grows at around 8 percent, and rightly points out this is off a much higher base than five to 10 years ago, making even 9 percent growth equivalent to adding some 2 million tons of additional demand a year.

Whether plant closures in the rest of the world outside of China, coupled with a continuation of the long-term financing trade that has held nearly 9-10 million tons of aluminum in isolation from the physical market, will together be enough to engineer higher prices remains a topic of much debate.

What can be said is that however much macroeconomic factors and swings in risk appetite move short-term prices, in the long run, supply/demand and cost of production tend to win out, and at current prices many producers, in the West and even in China, must be pondering the long-term viability of their higher cost assets.

Dropping two percent, Indian aluminum cash price was the biggest mover on June 18, 2012 on our daily aluminum price index.

On the LME, the aluminum 3-month price fell 0.7 percent to $1,951 per metric ton. The primary aluminum cash price weakened by 0.5 percent on the LME, settling at $1,914 per metric ton.

Chinese aluminum prices closed flat for the day.

The cash price of Chinese aluminum remained essentially flat in the mid-$2,500s per metric ton. The price of Chinese aluminum scrap held steady below $2,600 per metric ton.

At under $2,500 per metric ton, the price of Chinese aluminum billet was essentially unchanged, and for the fifth day in a row, the price of Chinese aluminum bar remained essentially flat above $2,200 per metric ton.

The cash price of Indian primary aluminum saw the biggest shift of the day, dropping 0.6 percent on June 15, 2012. After falling for two days, the 3-month price of aluminum rose 0.2 percent on the LME to $1,964 per metric ton. After a couple of days of decreasing prices on the LME, the cash price of primary aluminum held steady at $1,924.

Chinese aluminum closed mixed last Friday. The cash price of Chinese aluminum is back up, rising by 0.1 percent, while the price of Chinese aluminum scrap was unchanged at above $2,600 per metric ton. Chinese aluminum billet stayed flat above $2,500 per metric ton, and the price of Chinese aluminum bar continues hovering above $2,200 per metric ton for the fifth day in a row.

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Daily Aluminum Price Roundup

The aluminum 3-month price dropped 0.2 percent on the LME to close at $1,961 per metric ton on June 14, 2012. The LME aluminum cash price weakened by 0.1 percent, settling at $1,923 per metric ton. The cash price of primary Indian aluminum saw little movement on Thursday, closing out below $2 per kilogram.

Chinese aluminum cash prices fell 0.2 percent while the price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining below $2,600 per metric ton. The price of Chinese aluminum billet held steady at above $2,500 per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat above $2,200 per metric ton.

Weekly Aluminum MMI®: China, India, LME Prices Down

The week’s biggest mover on the weekly Aluminum MMI® was the aluminum 3-month price, which saw a 0.9 percent decline on the LME to $1,961 per metric ton. This week marked the third in a row of declining prices for the metal. The cash price of primary aluminum fell 0.6 percent on the LME over the past week to $1,923 per metric ton. This was the third week in a row of declining prices. Indian aluminum cash price drifted 0.6 percent since last week.

Chinese aluminum prices were mixed for the week. Chinese aluminum billet prices were off $1 per metric ton week over week. Closing out the third week of declining prices, the cash price of Chinese aluminum dropped by 0.1 percent. Chinese aluminum bar traded sideways last week, hovering above $2,200 per metric ton.

The week finished with no movement for Korean 3003 coil premium over 1050 sheet and Korean 5052 coil premium over 1050 sheet. European 5083 plate remained unchanged for the week, and prices for European 1050 aluminum remained constant, closing the week below $2,900 per metric ton.

The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

Dropping 0.9 percent on the LME, the cash price of primary aluminum was the biggest mover on June 13, 2012, closing at $1,925 per metric ton. Also on the LME, the 3-month price of aluminum declined 0.8 percent to $1,965 per metric ton.

The cash price of primary Indian aluminum changed direction with a 0.5 percent drop.

Meanwhile, Chinese aluminum prices were mixed for the day.

The cash price of Chinese aluminum closed in the mid-$2,000s per metric ton; following a couple days of improvement, prices fell by 0.9 percent.

The price of Chinese aluminum scrap, aluminum billet and aluminum bar saw little movement.

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