The cash price of primary Indian aluminum finished as the biggest mover on the weekly Aluminum MMI® after dropping 5.5 percent.
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 about $100 per metric ton, down from a week ago. After a 0.7 percent decline, Chinese aluminum billet closed out the week down as well. The Chinese aluminum cash price finished the week down 0.6 percent.
Prices for Korean 3003 coil premium over 1050 sheet remained constant. Korean 5052 coil premium over 1050 sheet traded sideways.
European 5083 plate remained unchanged for the week. European 1050 aluminum prices held steady also.
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.