The cash price of primary aluminum finished as the biggest mover on the weekly Aluminum MMI® after dropping 3 percent on the LME and landing at $1,932 per metric ton. With a 2.9 percent decrease on the LME, the 3-month price of aluminum closed the week at $1,961 per metric ton.
Closing out the third week of declining prices, the cash price of primary Indian aluminum dropped by 1.3 percent.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet prices were off slightly, down about $10 per metric ton from a week ago. The cash price of Chinese aluminum fell 0.2 percent, while Chinese aluminum bar prices held steady from the previous week.
Prices for Korean 3003 coil premium over 1050 aluminum sheet remained constant. Korean 5052 coil premium over 1050 aluminum sheet remained essentially flat from the previous week as well.
European 5083 aluminum plate and 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.