The biggest mover on the weekly Aluminum MMI® was Chinese aluminum billet, which saw a 2.4 percent decline.
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The cash price of Chinese aluminum declined to after drifting 2.1 percent since last week. The week finished with no movement for Chinese aluminum bar. 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.
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 percent on the LME last week to $2,109 per metric ton.
Prices for European 5083 plate remained constant. European 1050 aluminum prices held steady from the previous week.
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.