Cash Price of Primary Indian Aluminum Falls 3.1%

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Metal Prices, Premium

The cash price of primary Indian aluminum saw a 3.1 percent drop on Wednesday, May 1, landing at INR 96.95 ($1.80) per kilogram and making it the biggest mover of the day. On the LME, the aluminum 3-month price rose 0.3 percent to $1,886 per metric ton. Also on the LME, the primary aluminum cash price held steady around $1,846 per metric ton.

Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap was unchanged at CNY 12,525 ($2,031) per metric ton. Chinese aluminum billet held its value on Wednesday at CNY 14,450 ($2,343) 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 ($2,278) per metric ton. The cash price of Chinese aluminum held steady around CNY 14,530 ($2,356) per metric ton.