3-Month Price of Aluminum Drops 6.4%

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Metal Prices, Premium

The day’s biggest mover was the 3-month price of aluminum which dropped by 6.4 percent on Monday, July 8 to close at $1,786 per metric ton on the LME. On the LME, the cash price of primary aluminum fell 1.4 percent to $1,743 per metric ton. The Indian aluminum cash price increased 0.4 percent to INR 109.65 ($1.82) per kilogram.

Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum fell 0.3 percent to a 30-day low of CNY 14,350 ($2,338) per metric ton yesterday. Chinese aluminum scrap stayed flat at around CNY 12,795 ($2,084) per metric ton. The price of Chinese aluminum billet remained steady at CNY 14,350 ($2,338) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,050 ($2,289) per metric ton.