Cash Price Of Primary Aluminum Up After 2-Day Drop

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.