After drifting 1.3 percent on the LME, the cash price of primary aluminum dropped to $2,045 per metric ton, making it the biggest mover on the weekly Aluminum MMI®.
Following a 0.6 percent drop on the LME, the aluminum 3-month price finished the week at $2,091 per metric ton. The Indian aluminum cash price rose 0.5 percent after falling 3.1 percent during the previous week.
Chinese aluminum prices were mixed for the week. The Chinese aluminum cash price rose 0.2 percent. Chinese aluminum bar closed flat. The price of Chinese aluminum billet did not change since the previous week.
Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week. Korean 5052 coil premium over 1050 sheet traded sideways.
The week finished with no movement for European 5083 plate. European 1050 aluminum prices held steady from the previous 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.