The biggest mover on the weekly Aluminum MMI® was the LME aluminum 3-month price, which saw a 1.9 percent increase to $2,132 per metric ton. This week marked the third in a row of rising prices for the metal.
Also closing out the third week of rising prices, the cash price of primary Indian aluminum increased by 0.1 percent.
For the third week in a row, the cash price of Chinese aluminum dropped, falling 0.6 percent. Chinese aluminum billet fell 0.3 percent over the past week. Prices for Chinese aluminum bar remained constant.
Korean 3003 coil premium over 1050 aluminum sheet remained unchanged for the week. Korean 5052 coil premium over 1050 sheet prices held steady as well.
The week finished with no movement for European 5083 aluminum plate. European 1050 aluminum remained essentially flat too.
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.