Cash Price of Aluminum Drifts Downwards

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 The day’s biggest mover was the aluminum cash price which dropped by 1.8 percent on Jan. 29, 2013 to close at $2,006 per metric ton on the LME. The aluminum 3-month price weakened by 1.4 percent on the LME, settling at $2,045 per metric ton. The Indian aluminum cash price declined 1.0 percent to INR 107.25 ($1.99) per kilogram.

Chinese aluminum prices were mixed for the day. The price of Chinese aluminum billet fell 0.3 percent to CNY 14,800 ($2,378) per metric ton on Tuesday after two days of no change. The Chinese aluminum cash price showed little movement on Tuesday at CNY 14,900 ($2,394) per metric ton. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 12,730 ($2,045) per metric ton. The price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,257) per metric ton.