Cash Price of Primary Indian Aluminum Drifts Downwards

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Metal Prices, Premium

The cash price of primary Indian aluminum saw the biggest decline of the day, dropping 2.3 percent to close at INR 118.65 ($1.84) per kilogram on Friday, August 23. After a 0.3 percent increase, the cash price of primary aluminum finished the day on the LME at $1,857 per metric ton. Following a 0.1 percent rise last Friday, the aluminum 3-month price closed on the LME at $1,904 per metric ton.

Chinese aluminum prices were mixed for the day. The price of Chinese aluminum scrap finished the day at CNY 12,770 ($2,086) per metric ton following a 1.1 percent increase. The cash price of Chinese aluminum saw little movement last Friday at CNY 14,400 ($2,352) per metric ton. Chinese aluminum billet held its value last Friday at CNY 14,400 ($2,352) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,319) per metric ton.