3-Month Price of Aluminum Drifts Downwards

On Friday, November 1, the day’s biggest mover was the 3-month price of aluminum, which saw a 0.8 percent decline on the LME to $1,876 per metric ton. On the LME, the cash price of primary aluminum declined 0.6 percent to $1,833 per metric ton. After falling for two days, the cash price of primary Indian aluminum rose 0.3 percent to INR 116.10 ($1.87) per kilogram.

Chinese aluminum prices closed flat for the day. For the fifth consecutive day, the price of Chinese aluminum scrap held flat at CNY 12,810 ($2,101) per metric ton. At CNY 14,450 ($2,370) per metric ton, the price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar continues hovering around CNY 14,200 ($2,329) per metric ton for the fifth day in a row. The Chinese aluminum cash price held steady around CNY 14,500 ($2,379) per metric ton.