The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 3.6 percent increase to INR 102.25 ($1.84) per kilogram. This comes on the heels of a 5.7 percent decline the week prior. The cash price of primary aluminum rose 2.1 percent on the LME to $1,837 per metric ton after falling 4.6 percent during the previous week. The 3-month price of aluminum rose 2.0 percent on the LME to $1,871 per metric ton after falling 4.1 percent during the previous week.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap rose 1.4 percent to CNY 13,030 ($2,124) per metric ton after falling 0.4 percent during the previous week. The Chinese aluminum cash price rose 0.8 percent to CNY 14,610 ($2,382) per metric ton after falling 0.2 percent during the previous week. Chinese aluminum billet saw its price rise 0.3 percent over the past week to CNY 14,500 ($2,364) 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. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($3.91) per kilogram. European 5083 plate prices held steady from the previous week at EUR 2,689 ($3,505) per metric ton. At EUR 2,153 ($2,806) per metric ton, the price of European 1050 aluminum did not change since 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.