Aluminum MMI®: Big Price Drop for Cash Price of Primary Indian Aluminum
The cash price of primary Indian aluminum finished as the week’s biggest mover on the weekly Aluminum MMI® after dropping 5.5 percent and landing at INR 105.40 ($1.96) per kilogram. On the LME, the primary aluminum cash price declined 4.6 percent to $1,971 per metric ton. The aluminum 3-month price fell to $2,016 per metric ton after a 4.4 percent decrease on the LME from the previous week.
Chinese aluminum prices were mixed for the week. Chinese aluminum scrap prices fell to CNY 12,005 ($1,928) per metric ton, down from CNY 12,650 ($2,027) a week ago. After a 0.7 percent decline, Chinese aluminum billet closed out the week at CNY 14,400 ($2,312) per metric ton. At CNY 14,480 ($2,325) per metric ton, the Chinese aluminum cash price finished the week down 0.6 percent.
Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 4,210 ($3.88) per kilogram. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($4.02) per kilogram. Closing at EUR 2,654 ($3,555) per metric ton, European 5083 plate remained unchanged for the week. 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.