Weakening prices changed direction when the cash price of primary Chinese aluminum rose 1.1 percent on June 28, 2012. After falling for two days, the price of Chinese aluminum billet rose one percent. For the fifth consecutive day, the price of Chinese aluminum bar held flat. The price of Chinese aluminum scrap held steady at CNY 16,500 ($2,595) per metric ton.
The cash price of primary Indian aluminum gained 0.7 percent. The aluminum 3-month price saw a 0.1 percent decline on the LME to $1,849 per metric ton. The primary aluminum cash price flattened at $1,810 per metric ton after two days of downward movement on the LME.
Note: The entire monthly MMI numbers will be published on MetalMiner IndX on July 2. MetalMiner will continue to publish the individual MMI reports throughout the week of July 2.