The aluminum cash price saw the largest upwards shift on the weekly Aluminum MMI®, rising 0.6 percent on the LME to settle at $2,059 per metric ton. Following a 1.2 percent increase in the week prior, the Indian aluminum cash price fell 0.6 percent last week to INR 109.80 ($2.07) per kilogram. The aluminum 3-month price shifted up 0.5 percent on the LME to close at $2,095 per metric ton this week.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap declined 0.6 percent over the past week, settling at CNY 12,650 ($2,030) per metric ton. The Chinese aluminum cash price fell 0.5 percent to CNY 14,880 ($2,388) per metric ton after rising 0.3 percent the week before. At CNY 14,050 ($2,255) per metric ton, the week finished with no movement for Chinese aluminum bar.
At KRW 4,210 ($3.86) per kilogram, the price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($4.00) per kilogram. European 5083 plate traded sideways last week, hovering around EUR 2,654 ($3,612) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,183 ($2,971) 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.