Cash Price of Aluminum Continues to Weaken
On Monday, November 4, the day’s biggest mover was the aluminum cash price, which saw a 0.8 percent decline on the LME to $1,817 per metric ton. The 3-month price of aluminum weakened by 0.7 percent on the LME, settling at $1,862 per metric ton. The cash price of primary Indian aluminum showed little movement yesterday at INR 116.10 ($1.87) per kilogram.
Chinese aluminum closed mixed yesterday. The Chinese aluminum cash price declined 0.3 percent to CNY 14,450 ($2,370) per metric ton. The price of Chinese aluminum scrap saw little movement at CNY 12,810 ($2,101) per metric ton. Chinese aluminum billet held its value on Monday at CNY 14,450 ($2,370) per metric ton. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining around CNY 14,200 ($2,329) per metric ton.