Rusal Kinda Wins, as Today’s LME 3-Month Aluminum Price Drops

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For the big story in the aluminum world right now, look no further than MetalMiner Executive Editor Lisa Reisman’s analysis of the court case between the London Metal Exchange and Rusal – and the big surprise that took place yesterday.

Aluminum Prices Today

The 3-month price of aluminum saw the biggest decline of the day, dropping 1.0 percent on the LME to close at $1,985 per metric ton on Wednesday, July 30. On the LME, the cash price of primary aluminum fell 0.7 percent to $1,974 per metric ton. After falling for two days, the Indian aluminum cash price rose 0.4 percent to INR 120.10 ($1.99) per kilogram.

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Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price saw a 0.6 percent decline to CNY 13,930 ($2,254) per metric ton. The price of Chinese aluminum scrap continues hovering around CNY 12,250 ($1,982) per metric ton for the fifth day in a row. The price of Chinese aluminum billet was unchanged at CNY 13,590 ($2,199) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,298) per metric ton.

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