The monthly Aluminum MMI® registered a value of 98 in June, a decrease of 3.9 percent from 102 in May. The Aluminum MMI® baseline began on January 1, 2012, at a value of 100. This report serves as the first public release of this data.
Source: MetalMiner IndX℠
(Editor’s Note: Data will be presented in graph format, but we caution readers to note the range on the Y-axis.)
To drill down to the drivers, and to get more commentary, click below.
“Although aluminum declined this month, the light metal fared better than some of its peers, as we will show throughout this week,” said Lisa Reisman, managing editor of MetalMiner. “This MMI® data helps aluminum-buying organizations understand, from a global perspective, the month-to-month trends within the aluminum industry.”
“We also believe financial institutions, hedge funds and money managers will find this MMI® data a helpful tool to better understand actual global industrial demand data,” Reisman continued.
Drivers of This Month’s Change in the Aluminum MMI®
On the LME, the primary aluminum cash price fell 3.6 percent over the past month to $1,973 per metric ton. A 3.6 percent decline for the aluminum 3-month price on the LME left it at $2,013 per metric ton.
The cash price of primary Indian aluminum saw a small decline this month, falling below $2.00 per kilogram. The cash price of Chinese aluminum decreased by 1.3 percent this month, and Chinese aluminum billet fell a slight 0.9 percent.
Prices for Korean 3003 coil premium over 1050 sheet and 5052 coil premium over 1050 sheet did not budge the entire month; neither did Korean 1050 aluminum sheet. European 5083 plate held pat last month at below $4,000 per metric ton. European 1050 aluminum did not budge the entire month.
Chinese aluminum bar traded sideways last month, staying above $2,200 per metric ton. Hovering above $2,600 per metric ton for the month, Chinese aluminum scrap remained unchanged.
The monthly Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends over a 30-day period. MetalMiner will publish the monthly MMI® reports during the first week of the month, every month. Paid subscribers have access to all the data on the first of the month and can also obtain the actual price points for constituent elements that comprise the Aluminum MMI®.
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.