The Indian aluminum cash price saw the largest upwards shift on the weekly Aluminum MMI®, rising 2.4 percent to settle at INR 114.70 ($2.11) per kilogram. The cash price of primary aluminum rose 2.3 percent on the LME to $2,093 per metric ton after falling 1.3 percent during the previous week. The aluminum 3-month price rose 1.7 percent on the LME to $2,127 per metric ton after falling 0.6 percent during the previous week.
Chinese aluminum prices were mixed for the week. Closing at CNY 15,100 ($2,422) per metric ton for the week, Chinese aluminum billet rose by a slight 0.3 percent. Closing at CNY 15,060 ($2,416) per metric ton, the Chinese aluminum cash price remained unchanged for the week. Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,254) per metric ton.
European 5083 plate saw its price rise 1.7 percent over the past week to EUR 2,809 ($3,703) per metric ton. The price of European 1050 aluminum increased by a slight 0.5 percent over the past week to EUR 2,304 ($3,038) per metric ton. Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.96) per kilogram. At KRW 4,360 ($4.10) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since 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.