China aluminum scrap price drops on weekly index

MetalMiner reported that following 3.2% decline, Chinese aluminum scrap finished as the week’s biggest mover on the weekly Aluminum MMI.

Following a steady week, prices for the Chinese aluminum cash price closed flat. The price of Chinese aluminum bar did not change since the previous week. Chinese aluminum billet remained essentially flat from the previous week as well.

The 3 month price of aluminum fell 2.4% last week on the LME, settling at USD 1,969 per tonne. The cash price of primary aluminum fell 2.2% on the LME for the week to settle at USD 1,927 per tonne.

Following 0.8% drop, the cash price of primary Indian aluminum finished the week down. The price of European 1050 aluminum increased by a slight 1.5% over the past week, while the price of European 5083 plate declined 1.1%.

The week finished with no movement for Korean 3003 coil premium over 1050 sheet. Korean 5052 coil premium over 1050 sheet also remained unchanged.

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