Cash Price of Aluminum Lower

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Dropping 0.9 percent on the LME, the cash price of primary aluminum was the biggest mover on March 8, 2013, closing at $1,910 per metric ton. On the LME, the 3-month price of aluminum declined 0.7 percent to $1,955 per metric ton. The cash price of primary Indian aluminum is back up, rising by 0.2 percent last Friday to close at INR 104.80 ($1.92) per kilogram.

Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price inched up 0.5 percent to CNY 14,550 ($2,338) per metric ton. At CNY 14,450 ($2,322), the price of Chinese aluminum billet finished the market day up 0.3 percent per metric ton. Chinese aluminum scrap stayed flat at around CNY 11,625 ($1,868) per metric ton. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining around CNY 14,050 ($2,258) per metric ton.