Cash Price Of Primary Aluminum Up After 2-Day Drop

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The primary aluminum cash price rose 0.8 percent on May 17, 2012, making it the day’s biggest mover. After two days of falling prices on the LME, it closed at $1,994 per metric ton. On the LME, the primary aluminum 3-month price increased 0.7 percent to $2,034 per metric ton. The cash price of Indian primary aluminum fell 0.2 percent to INR 108.05 ($1.98) per kilogram.

Chinese aluminum closed mixed on Thursday. Following a quiet couple of days, the price of Chinese aluminum billet fell 0.3 percent yesterday to CNY 16,000 ($2,530) per metric ton. Following a 0.2 percent rise yesterday, Chinese primary aluminum cash price closed on the SHFE at CNY 16,020 ($2,534) per metric ton. The price of Chinese aluminum scrap was unchanged at CNY 16,650 ($2,633) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,050 ($2,222) per metric ton.

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