Cash Price of Chinese Aluminum Drifts Downwards

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The cash price of primary Chinese aluminum experienced the biggest price decline of the day, dropping 1.1 percent to close at CNY 14,570 ($2,335) per metric ton on Feb. 21, 2013. Chinese aluminum billet closed 1.0 percent lower at CNY 14,500 ($2,323) per metric ton. The price of Chinese aluminum bar held steady at CNY 14,050 ($2,251) per metric ton. The price of Chinese aluminum scrap continues hovering around CNY 12,650 ($2,027) per metric ton for the fifth day in a row.

The primary aluminum cash price weakened by 0.5 percent on the LME, settling at $2,065 per metric ton. The 3-month price of aluminum saw a 0.3 percent decline on the LME to $2,109 per metric ton. The Indian aluminum cash price declined 0.1 percent to INR 111.50 ($2.06) per kilogram.