Closing at $1,965 per metric ton on the LME, a 3.4 percent increase made the cash price of primary aluminum the biggest mover on the weekly Aluminum MMI®. Also on the LME, the 3-month price of aluminum rose 3.1 percent last week to $1,987 per metric ton.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet rose 0.3 percent after falling 0.7 percent during the previous week. The cash price of Chinese aluminum rose 0.2 percent after falling 0.4 percent during the previous week. Chinese aluminum bar prices held steady from the previous week.
The price of Korean 3003 coil premium over 1050 aluminum sheet did not change since the previous week. Prices for Korean 5052 coil premium over 1050 sheet remained constant as well.
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.