The week’s biggest mover on the Aluminum MMI® was Indian primary aluminum cash prices, which saw a two percent increase to INR 107.25 ($2.04) per kilogram. This comes on the heels of a 1.1 percent decline the week before. The 3-month price of primary aluminum rose 0.6 percent on the LME to $2,080 per metric ton after falling 1.9 percent during the week prior. The cash price of primary aluminum rose 0.6 percent on the LME to $2,040 per metric ton after falling two percent the previous week.
Chinese aluminum prices were mixed for the week. Last week, Chinese primary aluminum cash prices increased by a slight 0.5 percent on the SHFE to CNY 16,080 ($2,550) per metric ton. Chinese aluminum billet prices ticked up 0.3 percent over the past week to CNY 16,100 ($2,553) per metric ton. Closing at CNY 14,050 ($2,228) per metric ton, Chinese aluminum bar remained unchanged for the week.
Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3) per kilogram. At KRW 4,360 ($3) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet. European 5083 plate prices held steady from the previous week at EUR 3,038 ($3,989) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,415 ($3,171) per metric ton.
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 to: info (at) agmetalminer (dot) com.