The week’s biggest mover on the Aluminum MMI® was the LME aluminum 3-month price, which saw a 0.9 percent decline to $1,996 per metric ton. Last week marked the fourth in a row of declining prices for the metal.The 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 cash prices.
Also closing out the third week of rising prices, Indian aluminum cash price increased by 0.5 percent.
Chinese aluminum prices were flat for the week. The Chinese aluminum cash price closed at above $2,500 per metric ton after a flat week. Following a steady week, prices for Chinese aluminum bar closed flat at above $2,200 per metric ton. At above $2,500 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, as did prices for Korean 5052 coil premium over 1050 sheet. European 5083 plate traded sideways last week, hovering below $4,000 per metric ton. European 1050 aluminum prices held steady from the previous week at above $3,000 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.