Daily Aluminum Market Roundup: LME, India, China Prices Up

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Indian primary aluminum saw a 1.4 percent increase on May 2, 2012, reaching INR 109.60 ($2.09) per kilogram and making it the biggest upwards shift of the day. After a 0.4 percent increase, the primary aluminum cash price finished the day on the LME at $2,067 per metric ton. Also on the LME, the 3-month price of primary aluminum inched up 0.4 percent to $2,106 per metric ton.

Chinese aluminum closed mixed on Wednesday. Closing out a three-day flat streak, the price of Chinese aluminum billet moved up 0.3 percent to CNY 16,150 ($2,558) per metric ton. Following three days of little change on the SHFE, the cash price of Chinese primary aluminum rose by 0.1 percent to CNY 16,100 ($2,551) per metric ton. The price of Chinese aluminum scrap continues hovering around CNY 16,650 ($2,638) per metric ton for the fifth day in a row. The price of Chinese aluminum bar saw little movement at CNY 14,050 ($2,226) per metric ton.

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