The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 2.3 percent increase. This comes on the heels of a 2.5 percent decline the week prior. The cash price of primary aluminum rose 1.4 percent on the LME to $1,828 per metric ton after falling 3.7 percent during the previous week. The 3-month price of aluminum rose 1.3 percent on the LME to $1,868 per metric ton after falling 3.3 percent during the previous week.
Chinese aluminum prices were flat for the week. Following a steady week, prices for the Chinese aluminum cash price closed flat at around $2,400 per metric ton. Prices for Chinese aluminum bar remained constant, closing the week at slightly above $2,200 per metric ton. At around $2,400 per metric ton, the week finished with no movement for Chinese aluminum billet.
Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around $3 per kilogram. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at about $3 per kilogram. Keeping steady in the mid-$3,5oos per metric ton, the price of European 5083 plate did not change since the previous week. European 1050 aluminum prices held steady from the previous week at around $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.