Aluminum MMI®: Chinese Aluminum Scrap Falls 2.5% for the Week

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Metal Prices, Premium

The week’s biggest mover on the weekly Aluminum MMI® was the price of Chinese aluminum scrap, which saw a 2.5 percent decline to CNY 12,525 ($2,026) per metric ton. This comes on the heels of a 3.9 percent increase the week before. The Chinese aluminum cash price rose 0.4 percent to CNY 14,460 ($2,339) per metric ton after falling 1.4 percent during the previous week. The price of Chinese aluminum billet rose 0.3 percent to CNY 14,350 ($2,321) per metric ton after falling 1.0 percent during the previous week. At CNY 14,050 ($2,273) per metric ton, the price of Chinese aluminum bar did not change since the previous week.

The cash price of primary aluminum rose 0.8 percent on the LME to $1,871 per metric ton after falling 1.2 percent during the previous week. Last week, the Indian aluminum cash price increased by a slight 0.8 percent to INR 102.00 ($1.88) per kilogram. The aluminum 3-month price rose 0.7 percent on the LME to $1,901 per metric ton after falling 1.3 percent during the previous week.

Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.76) per kilogram. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($3.89) per kilogram. Prices for European 5083 plate remained constant, closing the week at EUR 2,624 ($3,363) per metric ton. European 1050 aluminum prices held steady 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.