The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary aluminum, which saw a 7.6 percent increase on the LME to $2,074 per metric ton. This week marked the third in a row of rising prices for the metal.
Closing out the third week of rising prices, the aluminum 3-month price increased by 7.2 percent on the LME, landing at $2,080 per metric ton. The Indian aluminum cash price rose 5.1 percent this week.
Chinese aluminum prices were mixed for the week. Chinese aluminum scrap prices ticked up 0.8 percent. The Chinese aluminum cash price stayed essentially flat, and Chinese aluminum bar traded sideways last week, hovering above $2,200 per metric ton.
Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week, below $4 per kilogram. Also below $4 per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet.
Closing below $3,600 per metric ton, European 5083 plate remained unchanged for the week. In the mid-$2,800s per metric ton, the price of European 1050 aluminum did not change since the previous 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.