The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary aluminum, which saw a 5.0 percent decline on the LME to $1,842 per metric ton. This comes on the heels of a 6.5 percent increase the week before. Following a 5.9 percent increase in the week prior, the 3-month price of aluminum fell 4.3 percent on the LME last week to $1,881 per metric ton. The cash price of primary Indian aluminum fell 3.4 percent to INR 105.90 ($1.83) per kilogram after rising 5.2 percent the week before.
Chinese aluminum prices were mixed for the week. Closing out the third week of rising prices, the price of Chinese aluminum billet increased by 0.3 percent, landing at CNY 14,850 ($2,420) per metric ton. The Chinese aluminum cash price rose 0.2 percent over the past week to CNY 14,935 ($2,434) per metric ton. This was the third week in a row of increasing prices. At CNY 14,050 ($2,290) per metric ton, the price of Chinese aluminum bar did not change since the previous week.
At KRW 4,210 ($3.73) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3.86) per kilogram. European 5083 plate prices held steady from the previous week at EUR 2,708 ($3,532) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,138 ($2,789) per metric ton.
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.