The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 3.2 percent decline. This week marked the third in a row of declining prices for the metal.
The primary aluminum cash price fell 2.3 percent on the LME over the past week to $1,879 per metric ton. This was the third week in a row of declining prices. For the third week in a row, the aluminum 3-month price dropped, falling 2.1 percent on the LME to $1,920 per metric ton.
Chinese aluminum prices were mixed for the week. Closing out the third week of declining prices, the Chinese aluminum cash price dropped by one percent. Meanwhile, the price of Chinese aluminum billet dropped 0.6 percent this week, closing out the third consecutive week of falling prices. The week finished with no movement for Chinese aluminum bar.
Korean 3003 coil premium over 1050 sheet prices did not change since the previous week. Korean 5052 coil premium over 1050 sheet remained unchanged for the week. European 5083 plate prices held steady from the previous week, while prices for European 1050 aluminum remained constant, closing the week below $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.