Chinese Aluminum Scrap Rises 4.8% for the Week

The week’s biggest mover on the weekly Aluminum MMI® was the price of Chinese aluminum scrap, which saw a 4.8 percent increase. This comes on the heels of a 7.3 percent decline the week prior.

The price of Chinese aluminum billet rose 0.7 percent after falling 2.0 percent during the previous week. The cash price of Chinese aluminum rose 0.2 percent after falling 1.3 percent during the previous week. The price of Chinese aluminum bar did not change since the previous week.

The Indian aluminum cash price rose 4.6 percent after falling 0.2 percent during the previous week. The primary aluminum cash price rose 2.4 percent on the LME to $1,774 per metric ton after falling 3.3 percent during the previous week. The aluminum 3-month price rose 2.1 percent on the LME to $1,817 per metric ton after falling 3.1 percent during the previous week.

The past week saw European 1050 aluminum close after a 4.1 percent decline. European 5083 plate finished the week after falling 3.8 percent. Korean 3003 coil premium over 1050 sheet remained essentially flat. Prices for Korean 5052 coil premium over 1050 sheet remained constant.

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