The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 5.7 percent increase. This week marked the third in a row of rising prices for the metal on our aluminum price index.
The primary aluminum cash price rose 3 percent on the LME over the past week to $1,928 per metric ton. The aluminum 3-month price shifted up 2.3 percent on the LME to close at $1,940 per metric ton this week.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum shifted up 0.4 percent. The price of Chinese aluminum billet increased by a slight 0.3 percent over the past week, while Chinese aluminum bar prices held steady from the previous week above $2,200 per metric ton.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat, and Korean 5052 coil premium over 1050 sheet remained unchanged.
Prices for European 5083 plate remained constant, closing the week north of $3,500 per metric ton. European 1050 aluminum prices held steady from the previous week above $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.