The cash price of primary aluminum saw a 2.7 percent decline on the LME, finishing at $1,792 per metric ton and making it the week’s biggest mover on the weekly Aluminum MMI®. With a 2.4 percent decrease on the LME, the 3-month price of aluminum closed the week at $1,837 per metric ton. The Indian aluminum cash price fell 1.5 percent for the week to settle at INR 104.35 ($1.78) per kilogram.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum fell 2.4 percent to CNY 14,580 ($2,379) per metric ton after rising 0.2 percent the week before. Following a 0.3 percent increase in the week prior, the price of Chinese aluminum billet fell 1.3 percent last week to CNY 14,650 ($2,390) per metric ton. Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,292) per metric ton.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.71) per kilogram. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3.84) per kilogram. At EUR 2,708 ($3,532) per metric ton, the week finished with no movement for European 5083 plate. Closing at EUR 2,138 ($2,789) per metric ton, European 1050 aluminum remained unchanged for the 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.