The monthly Aluminum MMI® registered a value of 90 in July, a decrease of 4.3 percent from 94 in June.
After rising the previous month, Chinese aluminum scrap prices dropped 7.3 percent to $1,988 per metric ton. On the LME, the cash price of primary aluminum fell 6.7 percent over the past month to $1,731 per metric ton. On the LME, the 3-month price of aluminum fell 6.0 percent to $1,776 per metric ton. Chinese aluminum billet prices fell 5.1 percent to $2,263 per metric ton after rising the previous month. European 1050 aluminum prices dropped by 4.1 percent this month to $2,667 per metric ton. After rising the previous month, European 5083 plate prices dropped 3.8 percent to $3,389 per metric ton. Chinese aluminum primary prices fell 2.8 percent to $2,340 per metric ton after rising the previous month. After rising the previous month, Indian aluminum primary prices dropped 0.4 percent to $1.79 per kilogram.
Korean 3003 coil premium over 1050 sheet held pat last month at $3.69 per kilogram. Korean 5052 coil premium over 1050 sheet experienced a flat month, staying around $3.82 per kilogram. Hovering around $2,288 per metric ton for the month, Chinese aluminum bar remained unchanged. The price of Korean 1050 aluminum sheet held steady around $3.64 per kilogram last month.
The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends over a 30-day period. 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.