The week’s biggest mover on the weekly Aluminum MMI® was the aluminum 3-month price, which saw a 1.9 percent increase on the LME to $2,132 per metric ton. This week marked the third in a row of rising prices for the metal. The primary aluminum cash price rose 1.9 percent on the LME this week, closing out the third week at $2,134 per metric ton. Closing out the third week of rising prices, the cash price of primary Indian aluminum increased by 0.1 percent, landing at INR 115.05 ($2.12) per kilogram.
Chinese aluminum prices were mixed for the week. For the third week in a row, the cash price of Chinese aluminum dropped, falling 0.6 percent to CNY 15,020 ($2,401) per metric ton. Chinese aluminum billet fell 0.3 percent over the past week to CNY 15,050 ($2,406) per metric ton. Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,246) per metric ton.
Closing at KRW 4,210 ($3.91) per kilogram, Korean 3003 coil premium over 1050 sheet remained unchanged for the week. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.05) per kilogram. At EUR 2,761 ($3,616) per metric ton, the week finished with no movement for European 5083 plate. European 1050 aluminum remained essentially flat from the previous week at EUR 2,293 ($3,003) per metric ton.
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.