Cash Price of Primary Indian Aluminum Weakens After Climb

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Following two days of increases, the cash price of primary Indian aluminum dropped by 1.2 percent to end at INR 113.25 ($2.09) per kilogram on Feb. 18, 2013. On the LME, the primary aluminum cash price increased 0.4 percent to $2,122 per metric ton. On the LME, the 3-month price of aluminum rose 0.3 percent to $2,165 per metric ton.

Chinese aluminum prices were mixed for the day. After holding steady for the past few days, the Chinese aluminum cash price fell 0.6 percent, closing at CNY 14,790 ($2,374) per metric ton. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 12,650 ($2,030) per metric ton. For the fifth consecutive day, the price of Chinese aluminum billet held flat at CNY 14,850 ($2,383) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,050 ($2,255) per metric ton.