The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 3.7 percent increase to INR 113.90 ($2.12) per kilogram. This comes on the heels of a 0.6 percent decline the week prior. At $2,130 per metric ton, the 3-month price of aluminum finished the week 1.7 percent higher on the LME. Closing out the third week of rising prices, the cash price of primary aluminum increased by 1.4 percent on the LME, landing at $2,088 per metric ton.
Chinese aluminum prices were flat for the week. At CNY 14,880 ($2,387) per metric ton, the cash price of Chinese aluminum remained essentially flat. Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,050 ($2,254) per metric ton. Closing at CNY 14,850 ($2,382) per metric ton, Chinese aluminum billet remained unchanged for the week.
Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,210 ($3.87) per kilogram. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($4.01) per kilogram. At EUR 2,654 ($3,612) per metric ton, the price of European 5083 plate did not change since the previous week. European 1050 aluminum prices held steady from the previous 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.