This past week, European 1050 aluminum dropped 3.6 percent on the Aluminum MMI®, making it the biggest mover. European 5083 plate fell 1.1 percent over the past week. Korean 3003 coil premium over 1050 sheet prices held steady from the previous week. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat as well.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet rose 0.3 percent over the past week. 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 above $2,200 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.
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.