The week’s biggest mover on the weekly Aluminum MMI® was the aluminum cash price, which saw a 3.7 percent decline on the LME to $1,803 per metric ton. This comes on the heels of a 1.5 percent increase the week before. The aluminum 3-month price fell 3.3 percent on the LME to $1,845 per metric ton after rising 1.6 percent the week before.
Following a 1.4 percent increase in the week prior, the cash price of primary Indian aluminum fell 2.5 percent last week.
Chinese aluminum prices were mixed for the week. The Chinese aluminum cash price fell 0.7 percent after rising 0.4 percent the week before. Following a 0.3 percent increase in the week prior, the price of Chinese aluminum billet fell 0.6 percent last week. Prices for Chinese aluminum bar remained constant, closing the week above $2,200 per metric ton.
The price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week as well.
European 5083 plate traded sideways last week, hovering above $3,500 per metric ton. Following a steady week, prices for European 1050 aluminum closed flat below $2,800 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.