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. 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.
Following a 0.9 percent increase in the week prior, the cash price of primary Indian aluminum fell 2.2 percent last week.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet gained a slight 0.3 percent this past week. Following a steady week, prices for the Chinese aluminum cash price closed flat. Chinese aluminum bar remained essentially flat from the previous week.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat. The week finished with no movement for Korean 5052 coil premium over 1050 sheet. The price of European 5083 plate did not change since the previous week. 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.