3-Month Price of Aluminum Lower

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The 3-month price of aluminum experienced the biggest price decline of the day, dropping 2.9 percent on the LME to close at $2,040 per metric ton on Jan. 16, 2013. The cash price of primary aluminum weakened by 2.9 percent on the LME, settling at $2,002 per metric ton. The cash price of primary Indian aluminum is back up, rising by 1.1 percent on Wednesday to close at INR 110.35 ($2.02) per kilogram.

Chinese aluminum closed mixed yesterday. Chinese aluminum billet ended the day at CNY 14,900 ($2,398) per metric ton, after the 0.3 percent drop yesterday. Following a 0.2 percent rise yesterday, the Chinese aluminum cash price closed at CNY 14,980 ($2,411) per metric ton. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 12,800 ($2,060) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,261) per metric ton.

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