The biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 3.4 percent decline.
Last week marked the fourth in a row of declining prices for the metal.
Closing out the third week of declining prices, the primary aluminum cash price dropped by 3.4 percent on the LME, finishing at $1,990 per metric ton. The 3-month price of aluminum dropped 3 percent on the LME this week, closing out the third consecutive week of falling prices at $2,032 per metric ton.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet declined 1.3 percent over the past week. The cash price of Chinese aluminum fell 0.7 percent. Chinese aluminum bar traded sideways last week.
The week finished with no movement for Korean 3003 coil premium over 1050 sheet. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat.
European 5083 plate prices held steady from the previous week as well. Prices for European 1050 aluminum remained constant.
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.