The week’s biggest mover on the weekly Aluminum MMI® was the 3-month price of aluminum, which saw a 2.3 percent decline on the LME to $1,943 per metric ton. This comes on the heels of a 1.0 percent increase the week before. Following a 0.9 percent increase in the week prior, the cash price of primary Indian aluminum fell 2.2 percent last week to INR 103.20 ($1.90) per kilogram. The primary aluminum cash price fell 2.1 percent on the LME to $1,905 per metric ton after rising 0.9 percent the week before.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet gained a slight 0.3 percent this past week, finishing at CNY 14,500 ($2,334) per metric ton. Following a steady week, prices for the Chinese aluminum cash price closed flat at CNY 14,560 ($2,344) per metric ton. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,262) per metric ton.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.77) per kilogram. At KRW 4,360 ($3.91) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet. At EUR 2,624 ($3,419) per metric ton, the price of European 5083 plate did not change since the previous week. Closing at EUR 2,215 ($2,886) per metric ton, European 1050 aluminum remained unchanged for the 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.