Chinese aluminum billet’s 0.6 percent decline made it this week’s biggest mover on the Aluminum MMI®. Chinese primary aluminum closed last week after a 0.5 percent drop. Chinese aluminum bar prices held steady from the previous week above $2,200 per metric ton. Chinese aluminum scrap traded sideways last week, hovering above $2,600 per metric ton.
Indian primary aluminum cash price rose 0.6 percent after falling 2.3 percent during the previous week. The cash price of primary aluminum rose 0.4 percent on the LME to $1,994 per metric ton after falling three percent during the previous week. The primary aluminum 3-month price rose 0.4 percent on the LME to $2,034 per metric ton after falling 2.9 percent during the previous week.
At KRW 4,210 ($3) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3) per kilogram. Following a steady week, prices for European 5083 plate closed flat at EUR 3,004 ($3,944) per metric ton. At EUR 2,327 ($3,055) 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.