3-Month Price of Aluminum Up 2.5%

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The aluminum 3-month price closed up Jan. 31, 2013 at $2,085 per metric ton, halting two days of weakening prices on the LME with a 2.5 percent shift. After falling for two days, the cash price of primary aluminum rose 2.5 percent on the LME to $2,046 per metric ton. The cash price of primary Indian aluminum rose 0.8 percent to INR 110.50 ($2.07) per kilogram.

Chinese aluminum closed mixed yesterday. Chinese aluminum billet gained 0.3 percent to finish at CNY 14,850 ($2,387) per metric ton. The cash price of Chinese aluminum increased 0.1 percent to CNY 14,960 ($2,405) 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 ($2,046) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,050 ($2,259) per metric ton.