The Indian primary aluminum cash price saw the biggest daily increase on global aluminum markets, up 1.6 percent for May 16, 2012.
The cash price of primary aluminum weakened by 0.1 percent on the LME, settling at $1,979 per metric ton. After a couple of days of decreasing prices on the LME, the 3-month price of primary aluminum held steady at $2,020.
Chinese aluminum prices were mixed for the day. The cash price of Chinese primary aluminum on the SHFE has been on the decline for seven days and is now at CNY 15,990 ($2,530) per metric ton. The price of Chinese aluminum scrap held steady, between $2,600 and $2,650 per metric ton. The price of Chinese aluminum billet showed little movement yesterday at above $2,500 per metric ton. The price of Chinese aluminum bar remained essentially flat, holding above $2,200 per metric ton.