The LME aluminum cash price saw the largest upwards shift on the weekly Aluminum MMI®, rising 0.6 percent to settle at $2,059 per metric ton. The aluminum 3-month price shifted up 0.5 percent on the LME to close at $2,095 per metric ton this week.
Following a 1.2 percent increase in the week prior, the Indian aluminum cash price fell 0.6 percent last week.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap declined 0.6 percent over the past week. The Chinese aluminum cash price fell 0.5 percent after rising 0.3 percent the week before. The week finished with no movement for Chinese aluminum bar.
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. European 5083 plate traded sideways last week. 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.