Chinese Aluminum Billet Drops 4.5% After Flat

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Metal Prices
Weakening prices ended a three-day flat streak as the price of Chinese aluminum billet fell 4.5 percent on Wednesday, January 15 to CNY 13,560 ($2,245) per metric ton. The cash price of Chinese aluminum reached a 30-day low after decreasing 2.9 percent to CNY 13,540 ($2,242) 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 ($2,351) per metric ton. The price of Chinese aluminum scrap held steady at CNY 12,350 ($2,045) per metric ton.

Following a 1.1 percent rise yesterday, the Indian aluminum cash price closed at INR 108.15 ($1.76) per kilogram. After a 0.5 percent increase, the primary aluminum cash price finished the day on the LME at $1,725 per metric ton. On the LME, the aluminum 3-month price rose 0.5 percent to $1,770 per metric ton.

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