China Aluminum Scrap Rises, LME Prices Shoot Up on Weekly Index
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. 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. Last week, the cash price of Chinese aluminum shifted slightly, rising by 1.6 percent. Chinese aluminum scrap rose 1.1 percent over the past week.
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 also. European 5083 plate prices held steady from the previous week. The week finished with no movement for European 1050 aluminum.
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