The monthly Aluminum MMI® registered a value of 93 in April, a decrease of 1.1 percent from 94 in March.
More commentary and analysis to come…
On the LME, the aluminum 3-month price closed the month at $1,910 per metric ton after dropping 5.3 percent. A 4.6 percent drop on the LME left the cash price of primary aluminum at $1,881 per metric ton. At $1.88 per kilogram, the Indian aluminum cash price fell 1.9 percent.
The price of European 5083 plate rose 5.7 percent to $3,563 per metric ton after falling the previous month. European 1050 aluminum saw its price rise 2.9 percent to $2,928 per metric ton. After dropping the previous month, the price of Chinese aluminum scrap prices rose 2.2 percent to $1,977 per metric ton. The price of Chinese aluminum billet rose 0.3 percent to $2,313 per metric ton after falling the previous month. The Chinese aluminum cash price prices rose 0.3 percent to $2,324 per metric ton.
The price of Korean 3003 coil premium over 1050 sheet held steady around $3.79 per kilogram last month. Hovering around $3.92 per kilogram for the month, Korean 5052 coil premium over 1050 sheet remained unchanged. At a price of $2,265 per metric ton, Chinese aluminum bar did not budge the entire month. Last month was consistent for Korean 1050 aluminum sheet, which did not move from $3.74 per kilogram.
The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends over a 30-day period. 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.