Cash Price of Primary Indian Aluminum Sees Small Jump

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Metal Prices
Rising 1.3 percent to close at INR 109.60 ($1.78) per kilogram, the cash price of primary Indian aluminum experienced the biggest change for Thursday, January 16. Weakening prices followed two days of improvement as the aluminum 3-month price dropped 0.6 percent on the LME to $1,760 per metric ton. On the LME, the primary aluminum cash price fell 0.6 percent to $1,715 per metric ton.

Chinese aluminum prices were mixed for the day. After hitting a 30-day low of CNY 13,580 ($2,244) per metric ton on Tuesday, January 14, the Chinese aluminum cash price rose 0.3 percent on Thursday. The price of Chinese aluminum billet rose 0.2 percent on Thursday, just off the 30-day low of CNY 13,590 ($2,246) per metric ton it hit on Tuesday, January 14. The price of Chinese aluminum scrap saw little movement at CNY 12,350 ($2,041) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,347) per metric ton.

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