The week’s biggest mover on the weekly Aluminum MMI® was the price of Chinese aluminum scrap, which saw a 3.9 percent increase to CNY 12,845 ($2,080) per metric ton. 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 to CNY 14,400 ($2,332) per metric ton. Chinese aluminum billet prices were off slightly at CNY 14,300 ($2,316) per metric ton, down from CNY 14,450 ($2,332) a week ago. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,275) per metric ton.
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, holding at at INR 101.20 ($1.87) per kilogram.
Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3.75) per kilogram. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($3.89) per kilogram. Closing at EUR 2,624 ($3,363) per metric ton, European 5083 plate remained unchanged for the week. Prices for European 1050 aluminum remained constant, closing the 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.