aluminum price

On May 30, 2012, the Indian aluminum cash price fell by 0.4 percent, making it the day’s biggest mover on global aluminum markets.

The LME aluminum 3-month price showed little movement on Wednesday at $2,019 per metric ton. On the LME, the cash price of primary aluminum saw little change in its price on Wednesday at $1,979 per metric ton.

Prices on the Chinese aluminum market, meanwhile, remained sleepy…

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Analysts and commentators have been saying for the last year that falling commodity prices will cause mine and smelter closures across a whole range of base metals and even some precious metals, but so far the reaction has been limited.

The FT Editors note points out the difference between the oil market where OPEC can cut production en masse by coordinating output at a third of global producers, and the metals producers who inevitably engage in a game of chicken, hoping their competitor will blink first and close.

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Following a two-day decline, the cash price of primary Indian aluminum climbed up 0.5 percent on May 29, 2012.

On the LME, the 3-month price of aluminum remained essentially flat at $2,021 per metric ton. The primary aluminum cash price remained essentially flat on the LME at $1,980 per metric ton.

Chinese aluminum prices ended up steady for the day.

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The week’s biggest mover on the Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 1.9 percent decline. Last week marked the fourth in a row of declining prices for the metal.

Chinese steel was down, while US shredded scrap and bar fuel surcharges held relatively steady.

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Following a two-day decline, the cash price of primary Indian aluminum climbed up 0.5 percent to end at INR 110.00 ($1.99) per kilogram on May 29, 2012. On the LME, the 3-month price of aluminum remained essentially flat at $2,021 per metric ton. The primary aluminum cash price remained essentially flat on the LME at $1,980 per metric ton.

Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum weakened by 0.1 percent, settling at CNY 16,010 ($2,528) per metric ton. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,650 ($2,629) per metric ton. Chinese aluminum billet saw little change in its price on Tuesday at CNY 16,000 ($2,527) per metric ton. The price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,219) per metric ton.

The week’s biggest mover on the Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 1.9 percent decline to CNY 1,010 ($159) per dry metric ton. Last week marked the fourth in a row of declining prices for the metal. At CNY 4,140 ($653) per metric ton, the price of Chinese rebar finished the week down one percent. US shredded scrap remained essentially flat from the previous week at $432 per short ton. At CNY 3,950 ($625) per metric ton, the price of Chinese H-beam steel did not change since the previous week.

Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,219) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,327 ($3,055) per metric ton.

The weekly US Midwest bar fuel surcharge closed at $0.53 per short ton after a flat week. Closing at $0.56 per short ton, the weekly US Rocky Mountain bar fuel surcharge remained unchanged for the week. At $0.53 per short ton, the weekly US Gulf Coast bar fuel surcharge remained essentially flat.

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.

With a decline of 0.8 percent on May 28, 2012, the cash price of primary Indian aluminum recorded the biggest shift of the day on global aluminum markets. After falling for two days, the cash price of primary aluminum rose 0.6 percent on the LME to $1,979 per metric ton. The 3-month price of aluminum is back up, rising by 0.5 percent on the LME last Friday to close at $2,019 per metric ton.

Chinese aluminum prices were mixed for the day.

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With a decline of 0.8 percent to INR 109.45 ($1.98) per kilogram on May 28, 2012, the cash price of primary Indian aluminum recorded the biggest shift of the day. After falling for two days, the cash price of primary aluminum rose 0.6 percent on the LME to $1,979 per metric ton. The 3-month price of aluminum is back up, rising by 0.5 percent on the LME last Friday to close at $2,019 per metric ton.

Chinese aluminum prices were mixed for the day. Chinese aluminum cash price rose 0.1 percent to CNY 16,030 ($2,530) per metric ton. The price of Chinese aluminum scrap remained essentially flat at CNY 16,650 ($2,628) per metric ton. At CNY 16,000 ($2,525) per metric ton, the price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar held steady at CNY 14,050 ($2,218) per metric ton.

On May 25, 2012, the day’s biggest mover was the cash price of primary Indian aluminum, which saw a 0.5 percent decline to INR 110.30 ($1.98) per kilogram. The 3-month price of aluminum saw a 0.3 percent decline on the LME to $2,008 per metric ton. The primary aluminum cash price weakened by 0.3 percent on the LME, settling at $1,968 per metric ton.

Chinese aluminum prices closed flat for the day. Chinese aluminum cash price held steady last Friday, remaining around CNY 16,010 ($2,527) per metric ton. The price of Chinese aluminum scrap was unchanged at CNY 16,650 ($2,628) per metric ton. At CNY 16,000 ($2,525) per metric ton, the price of Chinese aluminum billet was essentially unchanged. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,218) per metric ton.

A 2.5 percent increase made Indian aluminum cash price the week’s biggest mover on the Aluminum MMI®. Following a 0.4 percent increase in the week prior, the primary aluminum cash price fell one percent on the LME last week to $1,974 per metric ton. The aluminum 3-month price fell 0.9 percent on the LME to $2,015 per metric ton after rising 0.4 percent the week before.

Chinese aluminum prices were mixed for the week.

The cash price of Chinese aluminum dropped 0.1 percent this week, closing out the third consecutive week of falling prices. Following a steady week, prices for Chinese aluminum bar closed flat above $2,200 per metric ton. Chinese aluminum billet traded sideways last week, hovering above $2,500 per metric ton.

The price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Korean 5052 coil premium over 1050 sheet also remained unchanged for the week. European 5083 plate remained essentially flat from the previous week at below $3,950 per metric ton. Prices for European 1050 aluminum remained constant, closing the week at above $3,050 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.

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