Cash Price of Primary Indian Aluminum Weakens After Climb

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The Indian aluminum cash price fell 3.8 percent on Friday, May 10 to INR 100.75 ($1.86) per kilogram, making it the day’s biggest mover. The primary aluminum cash price changed direction with a 1.2 percent drop. After two days of improving prices, the metal finished at $1,864 per metric ton on the LME. The aluminum 3-month price declined 0.9 percent on the LME to $1,896 per metric ton, after two days of improvement.

Chinese aluminum prices were mixed for the day. Closing out a three-day flat streak, the price of Chinese aluminum billet moved up 0.3 percent to CNY 14,450 ($2,357) per metric ton. The Chinese aluminum cash price rose 0.1 percent to CNY 14,550 ($2,373) per metric ton. Chinese aluminum scrap held its value last Friday at CNY 12,905 ($2,105) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,050 ($2,292) per metric ton.