The week’s biggest mover on the Aluminum MMI® was the aluminum 3-month price, which saw a 0.9 percent decline on the LME to $1,996 per metric ton. Last week marked the fourth in a row of declining prices for the metal. The primary aluminum cash price fell 0.9 percent on the LME over the past week to $1,957 per metric ton. This was the third week in a row of declining prices. Closing out the third week of rising prices, Indian aluminum cash price increased by 0.5 percent, landing at INR 111.35 ($1.98) per kilogram.
Chinese aluminum prices were flat for the week. Chinese aluminum cash price closed at CNY 15,990 ($2,520) per metric ton after a flat week. Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,050 ($2,214) per metric ton. At CNY 16,000 ($2,521) per metric ton, the price of Chinese aluminum billet did not change since the previous week.
Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,210 ($3) per kilogram. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($3) per kilogram. European 5083 plate traded sideways last week, hovering around EUR 3,004 ($3,944) per metric ton. European 1050 aluminum prices held steady from the previous 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.