A 1.9 percent increase made the Indian aluminum cash price the week’s biggest mover on the weekly Aluminum MMI®, closing at INR 104.15 ($1.85) per kilogram. Following a 2.1 percent increase in the week prior, the primary aluminum cash price fell 0.9 percent on the LME last week to $1,821 per metric ton. The aluminum 3-month price fell 0.7 percent on the LME to $1,857 per metric ton after rising 2.0 percent the week before.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet rose 0.3 percent over the past week to CNY 14,550 ($2,372) per metric ton. This was the third week in a row of increasing prices. Closing out the third week of rising prices, the Chinese aluminum cash price increased by 0.3 percent, landing at CNY 14,660 ($2,390) per metric ton. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,291) per metric ton.
European 5083 plate saw its price rise 0.7 percent over the past week to EUR 2,708 ($3,532) per metric ton. European 1050 aluminum saw a 0.7 percent decline over the past week to EUR 2,138 ($2,789) per metric ton. At KRW 4,210 ($3.73) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. At KRW 4,360 ($3.87) per kilogram, the price of Korean 5052 coil premium over 1050 sheet 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.