The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 6.9 percent increase. This comes on the heels of a 0.5 percent decline the week prior. The cash price of primary aluminum rose 3.3 percent on the LME after falling 1.9 percent during the previous week. The 3-month price of aluminum rose 2.6 percent on the LME after falling 2.0 percent during the previous week.
Chinese aluminum prices were flat for the week. The cash price of Chinese aluminum stayed essentially flat. Chinese aluminum bar remained unchanged for the week and Chinese aluminum billet prices held steady from the previous week.
Korean 3003 coil premium over 1050 sheet traded sideways last week. The week finished with no movement for Korean 5052 coil premium over 1050 sheet. European 5083 plate remained essentially flat from the previous week. Following a steady week, prices for European 1050 aluminum closed flat.
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.