The biggest mover on the weekly Aluminum MMI® was the price of Chinese aluminum scrap, which saw a 2.5 percent decline. This comes on the heels of a 3.9 percent increase the week before. The Chinese aluminum cash price rose 0.4 percent after falling 1.4 percent during the previous week. The price of Chinese aluminum billet rose 0.3 percent after falling 1.0 percent during the previous week. 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. 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.
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.