Aluminum MMI®: Chinese Aluminum Scrap Rises 4.8% for the Week

by on
Style:
Category:
Metal Prices, Premium

 The week’s biggest mover on the weekly Aluminum MMI® was the price of Chinese aluminum scrap, which saw a 4.8 percent increase to CNY 12,795 ($2,088) per metric ton. This comes on the heels of a 7.3 percent decline the week prior. The price of Chinese aluminum billet rose 0.7 percent to CNY 14,450 ($2,358) per metric ton after falling 2.0 percent during the previous week. The cash price of Chinese aluminum rose 0.2 percent to CNY 14,420 ($2,353) per metric ton after falling 1.3 percent during the previous week. At CNY 14,050 ($2,293) per metric ton, the price of Chinese aluminum bar did not change since the previous week.

The Indian aluminum cash price rose 4.6 percent to INR 108.95 ($1.81) per kilogram after falling 0.2 percent during the previous week. The primary aluminum cash price rose 2.4 percent on the LME to $1,774 per metric ton after falling 3.3 percent during the previous week. The aluminum 3-month price rose 2.1 percent on the LME to $1,817 per metric ton after falling 3.1 percent during the previous week.

The past week saw European 1050 aluminum close at EUR 2,050 ($2,660) per metric ton after a 4.1 percent decline. European 5083 plate finished the week at EUR 2,605 ($3,380) per metric ton after falling 3.8 percent. Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,210 ($3.71) per kilogram. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($3.84) per kilogram.

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.