The biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 3.1 percent decline. 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.
Korean 3003 coil premium over 1050 sheet prices held steady from the previous week, as did Korean 5052 coil premium over 1050 sheet. European 5083 plate traded sideways last week, and 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.