The 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.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet fell 0.3 percent after rising 0.3 percent the week before. Since last week, the price of the cash price of Chinese aluminum fell 0.1 percent. The price of Chinese aluminum bar did not change.
Korean 3003 coil premium over 1050 sheet prices held steady. Korean 5052 coil premium over 1050 sheet traded sideways last week as well.
The week finished with no movement for European 5083 plate. European 1050 aluminum remained essentially flat also.
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.