3-Month Price of Aluminum Turns Around After Two-Day Fall

Following a two-day decline on the LME, the 3-month price of aluminum climbed up 1.1 percent to end at $1,780 per metric ton on Wednesday, January 8. Following a two-day drop, the cash price of primary aluminum increased by 0.9 percent on the LME to $1,733 per metric ton. The cash price of primary Indian aluminum saw little price change on Wednesday at INR 110.95 ($1.79) per kilogram.

Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum reached a 30-day low after decreasing 0.6 percent to CNY 13,980 ($2,310) per metric ton. Chinese aluminum scrap closed 0.2 percent lower at CNY 12,350 ($2,041) per metric ton. 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 saw essentially no change for the fifth day in a row, remaining around CNY 14,200 ($2,346) per metric ton.

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