The biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 3.7 percent increase. 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.
Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week. Prices for Korean 5052 coil premium over 1050 sheet remained constant.
The price of European 5083 plate did not change since the previous week. European 1050 aluminum 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.