As the Metal Bulletin aluminum industry conference in Moscow seemed to strike a nerve regarding the high physical premiums for the metal, aluminum prices gained on the LME and in India.
With a 0.9 percent increase over the past day, the LME aluminum cash price was the biggest mover on our aluminum price index, closing at $2,074 per metric ton on Sept. 13, 2012. Also on the LME, the 3-month price of aluminum gained 0.7 percent to finish at $2,080 per metric ton.
The cash price of primary Indian aluminum has been on the rise for 12 days and still holds above $2 per kilogram.
Chinese aluminum prices were flat for the day. The cash price of Chinese aluminum held steady around $2,400 per metric ton. The price of Chinese aluminum scrap held steady above $2,000 per metric ton.
The price of Chinese aluminum billet showed little movement yesterday, above $2,400 per metric ton. The price of Chinese aluminum bar saw little movement, holding just north of $2,200 per metric ton.