Following a 3.2 percent decline, Chinese aluminum scrap finished as the week’s biggest mover on the weekly Aluminum MMI®.
Following a steady week, prices for the Chinese aluminum cash price closed flat. The price of Chinese aluminum bar did not change since the previous week. Chinese aluminum billet remained essentially flat from the previous week as well.
The 3-month price of aluminum fell 2.4 percent last week on the LME, settling at $1,969 per metric ton. The cash price of primary aluminum fell 2.2 percent on the LME for the week to settle at $1,927 per metric ton.
Following a 0.8 percent drop, the cash price of primary Indian aluminum finished the week down.
The price of European 1050 aluminum increased by a slight 1.5 percent over the past week, while the price of European 5083 plate declined 1.1 percent.
The week finished with no movement for Korean 3003 coil premium over 1050 sheet. Korean 5052 coil premium over 1050 sheet also remained unchanged.
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.