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