Mineral Indicators - Aluminum

The London Metal Exchange began its first official session of aluminum trading on Monday, October 2, LME prices based on 3-month forward contracts opened Monday at 52.4 cents per pound, fell midway through the week to 52.3 cents and ended Friday at a high of 52.7 cents. For the week, LME metal averaged 52.5 cents. Although Reynolds Metals Co. and Aluminum Co. of American continued in September to value unalloyed 99.5 percent aluminum ingot at 53 cents per pound, other producers were at higher positions of 55-57 cents. Alcan Aluminum Corp. of Alcan Aluminum, Ltd., a Canadian producer, increased prices for its U.S.-marketed ingot by 2 cents to 55 cents per pound, effective September 21. New York merchants increased ingot quotes by approximately 0.5 cents to 52.8-53.5 cents per pound.