The 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.
Chinese aluminum prices were mixed for the week. The Chinese aluminum cash price rose 1.2 percent after falling 0.6 percent during the previous week. Chinese aluminum scrap fell 0.6 percent over the past week. Following a steady week, prices for Chinese aluminum bar closed flat.
Korean 3003 coil premium over 1050 sheet prices held steady from the previous week. Korean 5052 coil premium over 1050 sheet traded sideways. European 5083 plate remained unchanged for the week. European 1050 aluminum remained essentially flat.
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.