Cash Price of Primary Indian Aluminum Changes Directions

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Metal Prices, Premium

The Indian aluminum cash price closed up Wednesday, July 17 at INR 105.20 ($1.77) per kilogram, halting two days of weakening prices with a 0.7 percent shift. The primary aluminum cash price weakened by 0.5 percent on the LME, settling at $1,752 per metric ton. The 3-month price of aluminum saw a 0.2 percent decline on the LME to $1,801 per metric ton.

Chinese aluminum prices were mixed for the day. Just off of a 30-day low of CNY 14,330 ($2,317) per metric ton, the cash price of Chinese aluminum rose 0.2 percent on Wednesday. Chinese aluminum scrap stayed flat at around CNY 12,080 ($1,954) per metric ton. The price of Chinese aluminum billet held steady at CNY 14,350 ($2,321) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,050 ($2,272) per metric ton.