Cash Price of Aluminum Still Dropping

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Metal Prices, Premium

On Monday, July 29, the aluminum cash price fell by 1.3 percent on the LME, landing at $1,761 per metric ton and making it the day’s biggest mover. Today marks the fifth day in a row of declining prices for the aluminum 3-month price. After falling 1.3 percent on the LME, prices settled at $1,805 per metric ton, driving an accelerated drop-off since Tuesday, July 23. After falling for two days, the Indian aluminum cash price rose 0.6 percent to INR 104.35 ($1.77) per kilogram.

Chinese aluminum closed mixed on Monday. Following a quiet couple of days, the Chinese aluminum cash price fell 0.4 percent yesterday to CNY 14,305 ($2,333) per metric ton. The price of Chinese aluminum scrap held steady at CNY 12,080 ($1,970) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 14,350 ($2,341) per metric ton. The price of Chinese aluminum bar was unchanged at CNY 14,050 ($2,292) per metric ton.