The week’s biggest mover on the weekly Aluminum MMI® was the 3-month price of aluminum, which saw a 1.9 percent increase on the LME to $1,913 per metric ton. This comes on the heels of a 1.2 percent decline the week prior. The cash price of primary aluminum rose 1.8 percent on the LME to $1,878 per metric ton after falling 1.2 percent during the previous week. The cash price of primary Indian aluminum rose 1.0 percent to INR 101.20 ($1.86) per kilogram after falling 2.1 percent during the previous week.
Chinese aluminum prices were mixed for the week. The Chinese aluminum cash price rose 1.2 percent to CNY 14,610 ($2,358) per metric ton after falling 0.6 percent during the previous week. Chinese aluminum scrap fell 0.6 percent over the past week to CNY 12,365 ($1,995) per metric ton. Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,050 ($2,267) per metric ton.
Korean 3003 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,210 ($3.71) per kilogram. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($3.84) per kilogram. Closing at EUR 2,624 ($3,363) per metric ton, European 5083 plate remained unchanged for the week. European 1050 aluminum remained essentially flat from the previous week 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.