Aluminum MMI®: LME 3-Month Price Down For Third Straight Week

Daily Aluminum Price Roundup

The aluminum 3-month price dropped 0.2 percent on the LME to close at $1,961 per metric ton on June 14, 2012. The LME aluminum cash price weakened by 0.1 percent, settling at $1,923 per metric ton. The cash price of primary Indian aluminum saw little movement on Thursday, closing out below $2 per kilogram.

Chinese aluminum cash prices fell 0.2 percent while the price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining below $2,600 per metric ton. The price of Chinese aluminum billet held steady at above $2,500 per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat above $2,200 per metric ton.

Weekly Aluminum MMI®: China, India, LME Prices Down

The week’s biggest mover on the weekly Aluminum MMI® was the aluminum 3-month price, which saw a 0.9 percent decline on the LME to $1,961 per metric ton. This week marked the third in a row of declining prices for the metal. The cash price of primary aluminum fell 0.6 percent on the LME over the past week to $1,923 per metric ton. This was the third week in a row of declining prices. Indian aluminum cash price drifted 0.6 percent since last week.

Chinese aluminum prices were mixed for the week. Chinese aluminum billet prices were off $1 per metric ton week over week. Closing out the third week of declining prices, the cash price of Chinese aluminum dropped by 0.1 percent. Chinese aluminum bar traded sideways last week, hovering above $2,200 per metric ton.

The week finished with no movement for Korean 3003 coil premium over 1050 sheet and Korean 5052 coil premium over 1050 sheet. European 5083 plate remained unchanged for the week, and prices for European 1050 aluminum remained constant, closing the week below $2,900 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.

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