The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 2.1 percent decline to INR 100.20 ($1.84) per kilogram. This week marked the fifth in a row of declining prices for the metal. The 3-month price of aluminum fell 1.2 percent on the LME over the past week to $1,877 per metric ton. This was the fourth week in a row of declining prices. The cash price of primary aluminum fell 1.2 percent last week on the LME, settling at $1,845 per metric ton.
Chinese aluminum prices were mixed for the week. For the third week in a row, the cash price of Chinese aluminum dropped, falling 0.6 percent to CNY 14,430 ($2,327) per metric ton. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,265) per metric ton. Chinese aluminum billet prices held steady from the previous week at CNY 14,450 ($2,330) per metric ton.
At KRW 4,210 ($3.76) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($3.90) per kilogram. At EUR 2,624 ($3,363) per metric ton, the price of European 5083 plate did not change since the previous week. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,215 ($2,839) 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.