The week’s biggest mover on the weekly Aluminum MMI® was the aluminum cash price, which saw a 6.5 percent increase on the LME to $1,939 per metric ton. This comes on the heels of a 0.9 percent decline the week prior. The aluminum 3-month price rose 5.9 percent on the LME to $1,967 per metric ton after falling 0.7 percent during the previous week. The cash price of primary Indian aluminum rose 5.2 percent over the past week to INR 109.60 ($1.93) per kilogram. This was the third week in a row of increasing prices.
Chinese aluminum prices were mixed for the week. In the past week, Chinese aluminum billet saw its price shift up 1.7 percent to CNY 14,800 ($2,415) per metric ton. Last week, the cash price of Chinese aluminum shifted slightly, rising by 1.6 percent to close at CNY 14,900 ($2,431) per metric ton. Chinese aluminum scrap rose 1.1 percent over the past week to CNY 13,170 ($2,149) per metric ton.
Closing at KRW 4,210 ($3.76) per kilogram, Korean 3003 coil premium over 1050 sheet remained unchanged for the week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3.89) per kilogram. European 5083 plate prices held steady from the previous week at EUR 2,708 ($3,532) per metric ton. At EUR 2,138 ($2,789) per metric ton, the week finished with no movement for European 1050 aluminum.
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.