Prices for Chinese aluminum scrap saw the biggest increase on the weekly Aluminum MMI®, rising 7.1 percent.
The price of Chinese aluminum billet fell 0.3 percent after rising 0.3 percent the week before. The Chinese aluminum cash price closed last week after a 0.3 percent drop. Chinese aluminum bar remained essentially flat from the previous week.
At $1,900 per metric ton, the aluminum 3-month price finished the week down 2.2 percent on the LME. The primary aluminum cash price fell 2.0 percent on the LME over the past week to $1,867 per metric ton. This was the third week in a row of declining prices.
Korean 3003 coil premium over 1050 sheet remained unchanged for the week. The week finished with no movement for Korean 5052 coil premium over 1050 sheet.
European 5083 plate prices held steady from the previous week. European 1050 aluminum traded sideways.
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.