Notable Daily Aluminum Price Movement
On July 19, 2012, the day’s biggest daily mover was the Indian aluminum cash price, which saw a 2.2 percent increase. On the LME, the aluminum 3-month price declined 1.1 percent to $1,895 per metric ton. The primary aluminum cash price weakened by 1.1 percent on the LME, settling at $1,868 per metric ton.
The Chinese aluminum cash price rose 0.2 percent, while the Chinese aluminum scrap, aluminum billet and aluminum bar prices kept steady.
Weekly Aluminum MMI®
The week’s biggest mover on the weekly Aluminum MMI® was Indian aluminum cash price, which saw a 3.4 percent increase. This comes on the heels of a three percent decline the week prior.
Since last week, the price of the 3-month price of LME aluminum fell to $1,895 per metric ton after moving 0.6 percent. The primary aluminum cash price closed last week at $1,868 per metric ton, after a 0.2 percent drop on the LME.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum rose 0.2 percent after falling 1.3 percent during the previous week. Following a steady week, prices for Chinese aluminum bar closed flat above $2,200 per metric ton, while Chinese aluminum billet remained unchanged for the week.
Korean 3003 coil premium over 1050 sheet traded sideways last week, and Korean 5052 coil premium over 1050 sheet did not move. Prices for European 5083 plate remained constant, closing the week in the mid-$3,000 per metric ton range. European 1050 aluminum prices held steady from the previous week above $2,700 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.