Cash Price of Primary Indian Aluminum Collapses

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Metal Prices, Premium

The cash price of primary Indian aluminum saw a 3.9 percent drop on Tuesday, November 19, landing at INR 108.15 ($1.74) per kilogram and making it the biggest mover of the day. On the LME, the aluminum 3-month price saw little change in its price on Tuesday at $1,784 per metric ton. After dropping for two days on the LME, the primary aluminum cash price flattened at $1,737.

Chinese aluminum prices were flat for the day. The Chinese aluminum cash price saw little movement yesterday, closing out around CNY 14,370 ($2,358) per metric ton. Chinese aluminum scrap stayed flat at around CNY 12,740 ($2,091) per metric ton. At CNY 14,350 ($2,355) per metric ton, the price of Chinese aluminum billet was essentially unchanged. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,330) per metric ton.

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