Cash Price of Aluminum Up After Two-Day Decline
Following a two-day decline on the LME, the cash price of primary aluminum climbed up 3.1 percent to end at $1,860 per metric ton on Wednesday, April 17. After falling for two days, the 3-month price of aluminum rose 2.7 percent on the LME to $1,892 per metric ton. The Indian aluminum cash price weakened by 1.0 percent, settling at INR 100.10 ($1.85) per kilogram.
Chinese aluminum closed mixed yesterday. Following a 0.4 percent rise yesterday, the cash price of Chinese aluminum closed at CNY 14,480 ($2,341) per metric ton. The price of Chinese aluminum billet rose 0.3 percent to CNY 14,400 ($2,328) per metric ton after a two-day drop. The price of Chinese aluminum scrap showed little movement yesterday at CNY 12,845 ($2,077) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,050 ($2,272) per metric ton for the fifth day in a row.