Following a 2.2 percent decline, Chinese aluminum billet finished as the week’s biggest mover on the weekly Aluminum MMI®.
Chinese aluminum scrap prices were off slightly, down roughly $40 per metric ton from a week ago. Following a 0.2 percent increase in the week prior, the cash price of Chinese aluminum fell 1.3 percent last week. Following a steady week, prices for Chinese aluminum bar closed flat below $2,200 per metric ton.
The primary aluminum cash price fell 1.5 percent last week on the LME, settling at $1,839 per metric ton. The aluminum 3-month price closed last week at $1,871 per metric ton, after a 1.2 percent drop on the LME.
The cash price of primary Indian aluminum fell 1.3 percent after rising 3.4 percent the week before.
Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week, and the price of Korean 5052 coil premium over 1050 sheet also did not change since the previous week.
Closing below $3,500 per metric ton, European 5083 plate remained unchanged for the week. European 1050 aluminum traded sideways last 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.