A 2.5 percent increase made Indian aluminum cash price the week’s biggest mover on the Aluminum MMI®. 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. Following a steady week, prices for Chinese aluminum bar closed flat above $2,200 per metric ton. Chinese aluminum billet traded sideways last week, hovering above $2,500 per metric ton.
The price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Korean 5052 coil premium over 1050 sheet also remained unchanged for the week. European 5083 plate remained essentially flat from the previous week at below $3,950 per metric ton. Prices for European 1050 aluminum remained constant, closing the week at above $3,050 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.