After drifting three percent on the LME, the primary aluminum cash price dropped to $1,987 per metric ton, making it the biggest mover on the Aluminum MMI® this week. LME aluminum 3-month prices fell 2.9 percent for the week to settle at $2,026 per metric ton. Indian primary aluminum cash prices fell 2.3 percent, after rising 1.8 percent the week before.
Chinese aluminum prices were mixed for the week. Following a 0.6 percent increase in the week prior, Chinese primary aluminum cash price fell 0.4 percent on the SHFE last week to CNY 16,100 ($2,551) per metric ton. The price of Chinese aluminum billet fell 0.3 percent, after rising 0.3 percent the week before. Remaining above $2,200 per metric ton, the week finished with no movement for Chinese aluminum bar.
Closing between $3,900 and $3,950 per metric ton, European 5083 plate remained unchanged for the week. At above $3,000 per metric ton, the price of European 1050 aluminum did not change since the previous week.
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.