Aluminum MMI®: Small 2.4% Drift for Chinese Aluminum Billet

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The week’s biggest mover on the weekly Aluminum MMI® was Chinese aluminum billet, which saw a 2.4 percent decline to CNY 14,500 ($2,323) per metric ton. The cash price of Chinese aluminum declined to CNY 14,570 ($2,335) per metric ton after drifting 2.1 percent since last week. At CNY 14,050 ($2,251) per metric ton, the week finished with no movement for Chinese aluminum bar. At CNY 12,650 ($2,027) per metric ton, the price of Chinese aluminum scrap did not change since the previous week.

Following a 3.7 percent increase in the week prior, the cash price of primary Indian aluminum fell 2.1 percent last week to INR 111.50 ($2.06) per kilogram. The cash price of primary aluminum fell 1.1 percent on the LME to $2,065 per metric ton after rising 1.4 percent the week before. Following a 1.7 percent increase in the week prior, the aluminum 3-month price fell 1.0 percent on the LME last week to $2,109 per metric ton.

Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3.90) per kilogram. Closing at KRW 4,360 ($4.03) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week. Prices for European 5083 plate remained constant, closing the week at EUR 2,654 ($3,555) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,183 ($2,924) 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.