Cash Price of Primary Indian Aluminum Up Again

The Indian aluminum cash price closed as the biggest mover for Wednesday, November 20. Switching from a downward trend, the metal closed at INR 114.30 ($1.84) per kilogram following a 5.7 percent increase. Today marks the fifth day in a row of increases for the primary aluminum cash price. After climbing 0.0 percent on the LME, prices settled at $1,738 per metric ton, driving an accelerated improvement since Thursday, November 14. On the LME, the aluminum 3-month price saw little change in its price on Wednesday at $1,784 per metric ton.

Chinese aluminum prices were mixed for the day. After three essentially changeless days, the price of Chinese aluminum billet dropped 0.3 percent yesterday to CNY 14,300 ($2,347) per metric ton. The Chinese aluminum cash price remained essentially flat at CNY 14,360 ($2,356) per metric ton. The price of Chinese aluminum scrap showed little movement yesterday at CNY 12,740 ($2,091) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,200 ($2,330) per metric ton.

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