After drifting 4.6 percent, European 5083 plate prices continued to fall making it the biggest mover on the weekly Aluminum MMI®. The price of European 1050 aluminum also fell by a similar percent decline from the previous week. Korean 3003 coil premium over 1050 sheet prices, however, remained unchanged for the week. Korean 5052 coil premium over 1050 sheet prices also held steady from the previous week.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet fell 1.9 percent over the past week. This was the fourth week in a row of declining prices. Since last week, the cash price of Chinese aluminum fell to the lower $2400 per metric ton range after moving 1.8 percent. Prices for Chinese aluminum bar remained constant in the $2200 per metric ton range.
The aluminum 3-month price fell to $1,849 per metric ton on the LME, a 3.7 percent change from the prior week. This week, the primary aluminum cash price finished at $1,810 per metric ton on the LME after falling 3.7 percent. Indian aluminum cash price rose 0.4 percent after falling 3.2 percent during the previous week.
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.