A 2.9 percent increase made the 3-month price of aluminum the week’s biggest mover on the weekly Aluminum MMI®, closing at $2,140 per metric ton on the LME.
Finishing the fourth week of rising prices, the cash price of primary aluminum increased by 2.4 percent on the LME, finishing at $2,123 per metric ton.
The Indian aluminum cash price fell 1.3 percent, after rising 5.1 percent the week before.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet rose by a slight 0.6 percent. The Chinese aluminum cash price rose 0.6 percent over the past week as well. Chinese aluminum bar prices held steady from the previous week.
Korean 3003 coil premium over 1050 sheet remained unchanged for the week, and Korean 5052 coil premium over 1050 sheet remained constant.
The price of European 5083 plate did not change since the previous week, and European 1050 aluminum remained essentially flat.
The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.