The week’s biggest mover on the weekly Aluminum MMI® was the 3-month price of aluminum, which saw a 1.6 percent decline on the LME to $2,094 per metric ton. This comes on the heels of a 1.7 percent increase the week before. The cash price of primary aluminum fell 1.5 percent on the LME to $2,061 per metric ton after rising 2.3 percent the week before. Following a 2.4 percent increase in the week prior, the Indian aluminum cash price fell 1.2 percent last week to INR 113.30 ($2.07) per kilogram.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet fell 0.3 percent to CNY 15,050 ($2,417) per metric ton after rising 0.3 percent the week before. Since last week, the price of the cash price of Chinese aluminum fell to CNY 15,040 ($2,416) per metric ton after moving 0.1 percent. At CNY 14,050 ($2,257) per metric ton, the price of Chinese aluminum bar did not change since the previous week.
Korean 3003 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,210 ($3.97) per kilogram. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($4.11) per kilogram. At EUR 2,809 ($3,667) per metric ton, the week finished with no movement for European 5083 plate. European 1050 aluminum remained essentially flat from the previous week at EUR 2,304 ($3,008) per metric ton.
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.