With a decline of 0.8 percent on May 28, 2012, the cash price of primary Indian aluminum recorded the biggest shift of the day on global aluminum markets. After falling for two days, the cash price of primary aluminum rose 0.6 percent on the LME to $1,979 per metric ton. The 3-month price of aluminum is back up, rising by 0.5 percent on the LME last Friday to close at $2,019 per metric ton.
Chinese aluminum prices were mixed for the day.
The Chinese aluminum cash price rose 0.1 percent, while the price of Chinese aluminum scrap remained essentially flat at above $2,600 per metric ton. Holding above $2,500 per metric ton, the price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar held steady at over $2,200 per metric ton.