Closing at $2,094 per metric ton on the LME, a 5.1 percent increase made the aluminum cash price the biggest mover on the weekly Aluminum MMI®. Also on the LME, the aluminum 3-month price rose 4.7 percent last week to $2,092 per metric ton.
The Indian aluminum cash price rose 1.8 percent this week, closing out the fifth consecutive week of elevating prices.
Chinese aluminum prices were mixed for the week. Chinese aluminum scrap closed out the week after a 0.8 percent decline. Chinese aluminum billet prices were off slightly, down about $15 per metric ton from a week ago. The Chinese aluminum cash price declined 0.3 percent since last week.
A 3.5 percent jump represented the week’s heaviest change for European 1050 aluminum. Meanwhile, European 5083 aluminum plate rose by a slight 0.2 percent.
The week finished with no movement for Korean 3003 coil premium over 1050 sheet. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week 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.