The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 3.1 percent decline to INR 111.45 ($2.04) per kilogram. This comes on the heels of a 0.1 percent increase the week before. The primary aluminum cash price fell 2.9 percent on the LME to $2,072 per metric ton after rising 1.9 percent the week before. Following a 1.9 percent increase in the week prior, the 3-month price of aluminum fell 1.3 percent on the LME last week to $2,104 per metric ton.
Chinese aluminum prices were flat for the week. The Chinese aluminum cash price closed at CNY 15,020 ($2,409) per metric ton after a flat week. At CNY 14,050 ($2,254) per metric ton, the week finished with no movement for Chinese aluminum bar. Prices for Chinese aluminum billet remained constant, closing the week at CNY 15,050 ($2,414) per metric ton.
Korean 3003 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,210 ($3.92) per kilogram. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($4.06) per kilogram. European 5083 plate traded sideways last week, hovering around EUR 2,761 ($3,616) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat 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.