The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 1.5 percent decline to INR 107.35 ($1.79) per kilogram. This comes on the heels of a 4.6 percent increase the week before. Following a 2.4 percent increase in the week prior, the primary aluminum cash price fell 0.7 percent on the LME last week to $1,761 per metric ton. The 3-month price of aluminum fell 0.7 percent on the LME to $1,805 per metric ton after rising 2.1 percent the week before.
Chinese aluminum prices were mixed for the week. Following a 0.7 percent increase in the week prior, the price of Chinese aluminum billet fell 0.3 percent last week to CNY 14,400 ($2,347) per metric ton. The price of Chinese aluminum scrap fell 0.2 percent to CNY 12,770 ($2,082) per metric ton after rising 4.8 percent the week before. At CNY 14,430 ($2,352) per metric ton, the Chinese aluminum cash price remained essentially flat.
Closing at KRW 4,210 ($3.67) per kilogram, Korean 3003 coil premium over 1050 sheet remained unchanged for the week. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($3.80) per kilogram. European 5083 plate remained essentially flat from the previous week at EUR 2,605 ($3,338) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,050 ($2,627) 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.