Cash Price of Primary Indian Aluminum Drops 5.4%

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The Indian aluminum cash price saw a 5.4 percent drop on Tuesday, May 28, landing at INR 100.75 ($1.81) per kilogram and making it the biggest mover of the day. After a couple of days of decreasing prices on the LME, the primary aluminum cash price held steady at $1,814. The 3-month price of aluminum steadied at $1,847 per metric ton following two-days of dropping prices on the LME.

Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap showed little movement on Tuesday at CNY 13,020 ($2,126) per metric ton. The cash price of Chinese aluminum fell 0.1 percent to CNY 14,620 ($2,388) per metric ton, marking the fifth in a row of declining prices. The drop-off has accelerated since Wednesday, May 22. The price of Chinese aluminum billet remained steady at CNY 14,550 ($2,376) per metric ton. The price of Chinese aluminum bar held steady at CNY 14,050 ($2,294) per metric ton.