Demand for Aluminum Down in January, Still Rises on LME

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January aluminum demand in the US and Canada – measured as shipments by domestic producers plus imports – totaled an estimated 2.018 billion lbs., down 2.9% from January 2013, according to preliminary estimates from the Aluminum Association.

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The Indian aluminum cash price saw the biggest increase at 1.4 percent, finishing at INR 105.85 ($1.73) per kilogram for Monday, March 24. On the LME, the aluminum 3-month price gained 0.2 percent to finish at $1,719 per metric ton. At $1,677, the cash price of primary aluminum finished the market day on the LME up 0.2 percent per metric ton.

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Chinese aluminum closed mixed yesterday. The cash price of Chinese aluminum reached a 30-day low after decreasing 0.3 percent to CNY 12,330 ($1,981) per metric ton. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 12,250 ($1,968) per metric ton. The price of Chinese aluminum billet saw little movement at CNY 13,590 ($2,183) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,281) per metric ton.

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