3-Month Price of Aluminum Down

With a decline of 1.4 percent on the LME to $1,761 per metric ton on Tuesday, January 7, the aluminum 3-month price recorded the biggest decline of the day. The cash price of primary aluminum continues its trend downwards. Finishing the day at $1,717 per metric ton, it dropped 1.2 percent on the LME. The cash price of primary Indian aluminum rose 0.1 percent to INR 111.00 ($1.78) per kilogram.

Chinese aluminum closed mixed on Tuesday. Chinese aluminum scrap closed 0.6 percent lower at CNY 12,380 ($2,046) per metric ton. Tuesday saw the Chinese aluminum cash price drift down 0.1 percent to CNY 14,070 ($2,325) per metric ton after three quiet days. For the fifth day in a row, the price of Chinese aluminum billet remained essentially flat at CNY 14,200 ($2,346) per metric ton. The price of Chinese aluminum bar held steady at CNY 14,200 ($2,346) per metric ton.

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