The 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.
Chinese aluminum prices were mixed for the week. After a 0.5 percent decline, Chinese aluminum scrap closed out the week down. The Chinese aluminum cash price dropped 0.1 percent this week, closing out the third consecutive week of falling prices. Chinese aluminum bar remained essentially flat from the previous week.
Prices for Korean 3003 coil premium over 1050 sheet remained constant. Korean 5052 coil premium over 1050 sheet prices held steady as well.
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.