Cash Price of Primary Indian Aluminum Shifts Up 1.3%

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On Wednesday, July 10, the day’s biggest mover was the Indian aluminum cash price, which saw a 1.3 percent increase to INR 105.90 ($1.76) per kilogram. The cash price of primary aluminum is back up, rising by 0.2 percent on the LME yesterday to close at $1,740 per metric ton. Following a 0.2 percent rise on Wednesday, the 3-month price of aluminum closed on the LME at $1,786 per metric ton.

Chinese aluminum prices were mixed for the day. Following a quiet couple of days, the price of Chinese aluminum billet fell 0.3 percent on Wednesday to CNY 14,300 ($2,333) per metric ton. Chinese aluminum primary saw its price drop 0.2 percent to a 30-day low of CNY 14,340 ($2,339) per metric ton on Wednesday. The price of Chinese aluminum scrap showed little movement on Wednesday at CNY 12,730 ($2,077) 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 ($2,292) per metric ton.