The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a three percent decline. This comes on the heels of a one percent increase the week before. Following a 6.6 percent increase in the week prior, the primary aluminum cash price fell three percent on the LME last week to $1,872 per metric ton. The aluminum 3-month price fell three percent on the LME to $1,907 per metric ton after rising 6.3 percent the week before.
Chinese aluminum prices were mixed for the week. Following a 1.9 percent increase in the week prior, the Chinese aluminum cash price fell 1.3 percent last week. The price of Chinese aluminum billet fell 0.9 percent after rising 1.9 percent the week before. Chinese aluminum bar remained essentially flat from the previous week.
Korean 3003 coil premium over 1050 sheet traded sideways last week. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet also closed flat.
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.