Cash Price of Primary Indian Aluminum Switches Direction
Following two days of increases, the Indian aluminum cash price dropped by 2.3 percent to end at INR 100.20 ($1.84) per kilogram on Monday, April 29. On the LME, the primary aluminum cash price rose 0.4 percent to $1,890 per metric ton. After a 0.4 percent increase, the 3-month price of aluminum finished the day on the LME at $1,922 per metric ton.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap held steady at CNY 12,525 ($2,032) per metric ton. Chinese aluminum billet held its value on Monday at CNY 14,450 ($2,344) 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 ($2,279) per metric ton. The cash price of Chinese aluminum steadied at CNY 14,530 ($2,357) per metric ton following two-days of increases.