With a decline of 5.9 percent to INR 109.20 ($1.76) per kilogram on Tuesday, November 5, the cash price of primary Indian aluminum recorded the biggest decline of the day. On the LME, the 3-month price of aluminum declined 1.6 percent to $1,832 per metric ton. The primary aluminum cash price fell 1.6 percent on the LME to $1,788 per metric ton, marking the fifth in a row of declining prices. The drop-off has accelerated since Wednesday, October 30.
Chinese aluminum prices closed flat for the day. The Chinese aluminum cash price held steady around CNY 14,440 ($2,369) per metric ton. The price of Chinese aluminum scrap held steady at CNY 12,810 ($2,101) per metric ton. Chinese aluminum billet saw little change in its price yesterday at CNY 14,450 ($2,370) per metric ton. The price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,329) per metric ton.