The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 1.9 percent decline. This week marked the third in a row of declining prices for the primary metal.
For the third week in a row, the 3-month price of LME aluminum dropped, falling 1.5 percent to $1,932 per metric ton. At $1,906 per metric ton, the cash price of primary aluminum finished the week down 1.3 percent on the LME.
The price of Chinese aluminum billet dropped 0.3 percent this week, closing out the third consecutive week of falling prices. Closing out the third week of declining prices, the cash price of Chinese aluminum dropped by 0.2 percent. The week finished with no movement for Chinese aluminum bar.
Select Korean and European aluminum prices also did not move.
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.