The biggest mover on the weekly Aluminum MMI® was the price of Chinese aluminum scrap, which saw a 3.9 percent increase. This comes on the heels of a 0.6 percent decline the week prior.
Following a 1.2 percent increase in the week prior, the cash price of Chinese aluminum fell 1.4 percent last week. Chinese aluminum billet prices were off slightly, down about $15 per metric ton from a week ago. Chinese aluminum bar remained essentially flat from the previous week.
The aluminum 3-month price fell 1.3 percent on the LME to $1,887 per metric ton after rising 1.9 percent the week before. Following a 1.8 percent increase in the week prior, the primary aluminum cash price fell 1.2 percent on the LME last week to $1,855 per metric ton. This past week, the Indian aluminum cash price kept quiet.
Korean 3003 coil premium over 1050 sheet traded sideways last week. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week. European 5083 plate remained unchanged for the week. Prices for European 1050 aluminum remained constant as well.
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.