This past week, European 1050 aluminum dropped 3.6 percent on the Aluminum MMI®, landing at EUR $2,327 ($3,077) per metric ton as the biggest mover. European 5083 plate fell 1.1 percent over the past week to EUR $3,004 ($3,973) per metric ton. Korean 3003 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,210 ($3) per kilogram. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($3) per kilogram.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet rose 0.3 percent over the past week to CNY 16,150 ($2,558) per metric ton. The cash price of Chinese primary aluminum rose 0.1 percent on the SHFE over the past week to CNY 16,100 ($2,551) per metric ton. This was the third week in a row of increasing prices. At CNY 14,050 ($2,226) per metric ton, the week finished with no movement for Chinese aluminum bar.
The cash price of primary aluminum rose 1.3 percent on the LME over the past week to $2,067 per metric ton. Last week, the 3-month price of primary aluminum shifted slightly on the LME, rising by 1.2 percent to close at $2,106 per metric ton. In the past week, Indian aluminum primary saw its price drift up 0.6 percent to INR 109.60 ($2.09) per kilogram.
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.