Following two days of increases, the cash price of primary Indian aluminum dropped by 0.8 percent to end at INR 106.45 ($1.79) per kilogram on Monday, July 1. Following a two-day drop, the cash price of primary aluminum increased by 0.7 percent on the LME to $1,731 per metric ton. Following a 0.7 percent rise yesterday, the aluminum 3-month price closed on the LME at $1,776 per metric ton.
Chinese aluminum prices closed flat for the day. The Chinese aluminum cash price showed little movement on Monday at CNY 14,370 ($2,340) per metric ton. The price of Chinese aluminum scrap continues hovering around CNY 12,210 ($1,988) per metric ton for the fifth day in a row. The price of Chinese aluminum billet remained steady at CNY 13,900 ($2,263) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,288) per metric ton.