European 5083 plate finished as the week’s biggest mover on the weekly Aluminum MMI® after dropping 5.5 percent and landing at EUR 2,654 ($3,601) per metric ton. European 1050 aluminum weakened by 5.3 percent to land at EUR 2,183 ($2,962) per metric ton. Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3.87) per kilogram. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.01) per kilogram.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum rose 0.3 percent to CNY 14,960 ($2,405) per metric ton after falling 0.1 percent during the previous week. At CNY 14,050 ($2,259) per metric ton, the week finished with no movement for Chinese aluminum bar. At CNY 14,850 ($2,387) per metric ton, the price of Chinese aluminum billet did not change since the previous week.
The Indian aluminum cash price rose 1.2 percent to INR 110.50 ($2.07) per kilogram after falling 0.2 percent during the previous week. The primary aluminum cash price stayed essentially flat on the LME at $2,046 per metric ton. Following a steady week, prices for on the LME the aluminum 3-month price closed flat at $2,085 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.