The biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 5.0 percent decline. This comes on the heels of a 0.8 percent increase the week before.
Following a 0.8 percent increase in the week prior, the primary aluminum cash price fell 4.4 percent on the LME last week to $1,788 per metric ton. The aluminum 3-month price fell 3.8 percent on the LME to $1,828 per metric ton after rising 0.7 percent the week before.
Chinese aluminum prices were mixed for the week. Following a 0.4 percent increase in the week prior, the Chinese aluminum cash price fell 0.4 percent last week. The price of Chinese aluminum billet fell 0.3 percent after rising 0.3 percent the week before. Chinese aluminum bar remained unchanged for the week.
European 1050 aluminum saw a 2.8 percent decline over the past week. Following a 2.5 percent increase, European 5083 plate finished the week up. The price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed 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.