Loss Streak for 3-Month Price of Aluminum

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The aluminum 3-month price saw the biggest decline of the day, dropping 1.7 percent on the LME to close at $2,014 per metric ton on Feb. 27, 2013. The primary aluminum cash price on the LME has been on the decline for 9 days and is now at $1,970 per metric ton. The Indian aluminum cash price has been on the decline for 12 days and is now at INR 106.15 ($1.96) per kilogram.

Chinese aluminum closed mixed on Wednesday. Following a 0.3 percent rise yesterday, the price of Chinese aluminum billet closed at CNY 14,450 ($2,320) per metric ton. After falling for two days, the cash price of Chinese aluminum rose 0.1 percent to CNY 14,520 ($2,331) per metric ton. At CNY 12,005 ($1,927) per metric ton, the price of Chinese aluminum scrap was essentially unchanged. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,050 ($2,255) per metric ton.