The week’s biggest mover on the weekly aluminum price index was the cash price of primary aluminum, which saw a 3.5 percent decline on the LME to $2,048 per metric ton. This comes on the heels of a 2.4 percent increase the week before.
Following a 2.9 percent increase in the week prior, the aluminum 3-month price fell 3 percent on the LME last week to $2,075 per metric ton.
The Indian aluminum cash price fell 3.3 percent from the prior week.
The price of Chinese aluminum billet fell 0.3 percent after rising 0.6 percent the week before. Following a 0.6 percent increase in the week prior, the Chinese aluminum cash price fell 0.3 percent last week as well. Chinese aluminum bar traded sideways last week.
Prices for Korean 3003 coil premium over 1050 sheet remained constant. Korean 5052 coil premium over 1050 sheet remained unchanged for the week.
European 5083 plate remained essentially flat from the previous week, and the price of European 1050 aluminum did not change either.
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.