Aluminum MMI®: Cash Price of Primary Indian Aluminum Falls 5.7% for the Week

The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 5.7 percent decline to INR 98.70 ($1.80) per kilogram. This comes on the heels of a 8.1 percent increase the week before. The cash price of primary aluminum fell 4.6 percent on the LME to $1,800 per metric ton after rising 5.5 percent the week before. Following a 4.6 percent increase in the week prior, the 3-month price of aluminum fell 4.1 percent on the LME last week to $1,834 per metric ton.

Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap fell 0.4 percent to CNY 12,850 ($2,090) per metric ton after rising 3.0 percent the week before. Closing out the third week of rising prices, the price of Chinese aluminum billet increased by 0.3 percent, landing at CNY 14,450 ($2,351) per metric ton. Following a 0.9 percent increase in the week prior, the Chinese aluminum cash price fell 0.2 percent last week to CNY 14,500 ($2,359) per metric ton.

Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 4,210 ($3.77) per kilogram. At KRW 4,360 ($3.91) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. European 5083 plate traded sideways last week, hovering around EUR 2,689 ($3,505) per metric ton. Closing at EUR 2,153 ($2,806) per metric ton, European 1050 aluminum remained unchanged for the 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.