The aluminum cash price finished as the week’s biggest mover on the weekly Aluminum MMI® after dropping 1.3 percent on the LME and landing at $2,045 per metric ton. the aluminum 3-month price fell 0.6 percent last week on the LME, settling at $2,091 per metric ton. the cash price of primary Indian aluminum rose 0.5 percent to INR 112.05 ($2.04) per kilogram after falling 3.1 percent during the previous week.
Chinese aluminum prices were mixed for the week. the Chinese aluminum cash price settled at CNY 15,050 ($2,413) per metric ton this week after shifting up 0.2 percent. At CNY 14,050 ($2,252) per metric ton, the week finished with no movement for Chinese aluminum bar. Chinese aluminum billet traded sideways last week, hovering around CNY 15,050 ($2,413) per metric ton.
Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 4,210 ($3) per kilogram. At KRW 4,360 ($4) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. European 5083 plate prices held steady from the previous week at EUR 2,761 ($3,639) per metric ton. Closing at EUR 2,293 ($3,022) per metric ton, European 1050 aluminum remained unchanged for the week.
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.