The week’s biggest mover on the weekly Aluminum MMI® was the 3-month price of aluminum, which saw a 1.0 percent increase on the LME to $1,988 per metric ton. This comes on the heels of a 2.4 percent decline the week prior. The cash price of primary aluminum rose 0.9 percent on the LME to $1,945 per metric ton after falling 2.2 percent during the previous week. The cash price of primary Indian aluminum rose 0.9 percent to INR 105.50 ($1.94) per kilogram after falling 0.8 percent during the previous week.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum shifted up 0.5 percent to close at CNY 14,550 ($2,341) per metric ton this week. The price of Chinese aluminum billet increased by a slight 0.3 percent over the past week to CNY 14,450 ($2,325) per metric ton. At CNY 14,050 ($2,261) per metric ton, the week finished with no movement for Chinese aluminum bar.
Closing at KRW 4,210 ($3.83) per kilogram, Korean 3003 coil premium over 1050 sheet remained unchanged for the week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3.97) per kilogram. At EUR 2,624 ($3,406) per metric ton, the price of European 5083 plate did not change since the previous week. European 1050 aluminum prices held steady from the previous week at EUR 2,215 ($2,875) 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.