The aluminum 3-month price saw the largest upwards shift on MetalMiner’s weekly Aluminum MMI®, rising 1.6 percent on the LME to settle at $1,907 per metric ton. The cash price of primary aluminum shifted up 1.5 percent on the LME to close at $1,872 per metric ton this week.
The Indian aluminum cash price rose 1.4 percent after falling 2.7 percent during the previous week.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum settled after shifting up of 0.4 percent. Chinese aluminum billet rose by a slight 0.3 percent. Following a steady week, prices for Chinese aluminum bar closed flat at north of $2,200 per metric ton.
Korean 3003 coil premium over 1050 sheet traded sideways last week. The price of Korean 5052 coil premium over 1050 sheet also did not change since the previous week. European 5083 plate remained essentially flat from the previous week above $3,500 per metric ton. Closing below $2,800 per metric ton, European 1050 aluminum remained unchanged for the 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.