The week’s biggest mover on the weekly Aluminum MMI® was the aluminum cash price, which saw a 2.4 percent increase on the LME to $1,872 per metric ton. The aluminum 3-month price rose 1.5 percent on the LME this week, closing out the third week at $1,896 per metric ton.
The cash price of primary Indian aluminum shifted up 1.2 percent this week.
Chinese aluminum prices were mixed, however. Chinese aluminum billet finished the week with a 0.3 percent increase. The cash price of Chinese aluminum shifted up 0.1 percent. Holding north of $2,200 per metric ton, the price of Chinese aluminum bar did not change since the previous week.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week below $4 per kilogram.
At above $3,500 per metric ton, the week finished with no movement for European 5083 plate. European 1050 aluminum traded sideways last week as well.
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.