According to figures released by the International Aluminum Institute (IAI), the global primary aluminum output was up by 200 mt per day during the month of May this year.
As per the data, the average primary aluminum output excluding China was 67,500 mt per day in May ’14. This is when compared with the revised average primary aluminum output of 67,300 mt per day during April. However, the average output during May ’14 fell significantly from the levels a year ago. The global primary aluminum output had averaged at 68,100 mt per day during May 2013.
The total production during the month of May amounted to 2.093 million mt, almost 3.6% higher when compared with the previous month.
Rising 3.5 percent to close at INR 115.25 ($1.91) per kilogram, the Indian aluminum cash price experienced the biggest change for Friday, June 20. On the LME, the 3-month price of aluminum rose 0.9 percent to $1,885 per metric ton. On the LME, the primary aluminum cash price increased 0.8 percent to $1,844 per metric ton.
Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price inched up 1.1 percent to CNY 13,360 ($2,145) per metric ton. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat at CNY 12,250 ($1,966) per metric ton. The price of Chinese aluminum billet saw little movement at CNY 13,590 ($2,182) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,200 ($2,280) per metric ton for the fifth day in a row.