The week’s biggest mover on the weekly Aluminum MMI® was the aluminum cash price, which saw a 2.8 percent increase on the LME to $2,047 per metric ton. This comes on the heels of a 3.4 percent decline the week prior. The 3-month price of aluminum rose 2.6 percent on the LME to $2,085 per metric ton after falling 3.0 percent during the previous week. Since last week, the price of the Indian aluminum cash price fell to INR 109.15 ($2.03) per kilogram after moving 0.2 percent.
Chinese aluminum prices were mixed for the week. After a 0.5 percent decline, Chinese aluminum scrap closed out the week at CNY 12,730 ($2,046) per metric ton. The Chinese aluminum cash price dropped 0.1 percent this week, closing out the third consecutive week of falling prices at CNY 14,920 ($2,398) per metric ton. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,258) per metric ton.
Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 4,210 ($3.94) per kilogram. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.08) per kilogram. At EUR 2,809 ($3,667) per metric ton, the price of European 5083 plate did not change since the previous week. Closing at EUR 2,304 ($3,008) per metric ton, European 1050 aluminum remained unchanged for the week.
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.