Aluminum Price Index Held Steady in 2012, Despite Finance Games

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MetalMiner Monthly Aluminum Price Index January 2013 graph

The January Aluminum MMI® held steady this past month at 99.

exact aluminum prices - MetalMiner IndX Prices for nearly every aluminum element contained in the monthly aluminum price index held constant, and movements were limited to a very tight range.

Get past MMI reports here!

“The Aluminum MMI® has held up strongly since the start of 2012, slipping only one point from a year ago,” said Lisa Reisman, managing editor of MetalMiner, “despite the LME warehouse finance games playing out over the course of this year with available stocks declining [see chart below], aluminum remains in stable supply.”

LME base metals 2012 prices and stocks graph

Source: Reuters

The largest US aluminum producer Alcoa announced fourth quarter results earlier this week, and indicated aluminum demand should grow by 7 percent for 2013 while secondary aluminum products (e.g. semi’s) continue to provide strength for Alcoa’s earnings (over primary products).

Notable Price Movements

today's metal prices - MetalMiner IndX The price of European 5083 plate increased 2.8 percent.

After rising 9.9 percent the previous month, aluminum 3-month prices dropped 0.4 percent on the LME to $2,071 per metric ton.

Chinese aluminum bar experienced nearly a flat month, dropping 0.1 percent. Chinese aluminum billet dropped 0.8 percent last month, and Chinese aluminum scrap dropped 0.9 percent.

The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends over a 30-day period. 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.

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