Following a 5.4 percent decline to CNY 12,080 ($1,969) per metric ton, Chinese aluminum scrap finished as the week’s biggest mover on the weekly Aluminum MMI®. The Chinese aluminum cash price declined to CNY 14,330 ($2,336) per metric ton after drifting 0.7 percent since last week. The price of Chinese aluminum billet fell 0.3 percent over the past week to CNY 14,350 ($2,339) per metric ton. This was the fourth week in a row of declining prices. Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,290) per metric ton.
The cash price of primary Indian aluminum closed last week at INR 104.65 ($1.76) per kilogram, after a 2.5 percent drop. The aluminum 3-month price rose 0.6 percent on the LME to $1,816 per metric ton after falling 0.7 percent during the previous week. The cash price of primary aluminum rose 0.6 percent on the LME to $1,772 per metric ton after falling 0.7 percent during the previous week.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.75) per kilogram. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3.88) per kilogram. At EUR 2,605 ($3,338) per metric ton, the week finished with no movement for European 5083 plate. At EUR 2,050 ($2,627) per metric ton, the price of European 1050 aluminum did not change since the previous 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.