The monthly Aluminum MMI® registered a value of 99 in October, an increase of 5.3 percent from 94 in September.
At $2,126 per metric ton, the aluminum 3-month price finished the month on the LME 12.4 percent higher. This was the second straight month of declines.
The price of European commercial 1050 aluminum sheet rose 6.3 percent over the past month to EUR 2,354 ($3,016) per metric ton after holding steady the previous month. The price of European 5083 plate increased 0.9 percent to EUR 2,812 ($3,602) per metric ton after staying flat the previous month.
The Chinese aluminum cash price rose 1.9 percent to settle at CNY 15,500 ($2,466) per metric ton. The price of Chinese aluminum billet rose 1.7 percent over the past month to CNY 15,500 ($2,466) per metric ton after holding steady the previous month.
The price of Korean 1050 aluminum sheet rose 1.6 percent over the past month at KRW 4,160 ($3.71) per kilogram.
The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends over a 30-day period. 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.