A 2.5 percent increase made Indian aluminum cash price the week’s biggest mover on the Aluminum MMI℠, closing at INR 110.80 ($1.98) per kilogram. Following a 0.4 percent increase in the week prior, the primary aluminum cash price fell one percent on the LME last week to $1,974 per metric ton. The aluminum 3-month price fell 0.9 percent on the LME to $2,015 per metric ton after rising 0.4 percent the week before.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum dropped 0.1 percent this week, closing out the third consecutive week of falling prices at CNY 16,000 ($2,527) per metric ton. Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,050 ($2,219) per metric ton. Chinese aluminum billet traded sideways last week, hovering around CNY 16,000 ($2,527) per metric ton.
At KRW 4,210 ($3) per kilogram, the price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Closing at KRW 4,360 ($3) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week. European 5083 plate remained essentially flat from the previous week at EUR 3,004 ($3,944) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,327 ($3,055) 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 at: info (at) agmetalminer (dot) com.