The aluminum cash price saw the biggest increase on the weekly Aluminum MMI® this week, rising 1.9 percent on the LME and settling at $1,807 per metric ton. Last week, the aluminum 3-month price increased by a slight 1.9 percent on the LME to $1,850 per metric ton. The cash price of primary Indian aluminum rose 0.5 percent to INR 105.15 ($1.78) per kilogram after falling 2.5 percent during the previous week.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum rose 0.3 percent to CNY 14,370 ($2,341) per metric ton after falling 0.7 percent during the previous week. At CNY 14,050 ($2,289) per metric ton, the week finished with no movement for Chinese aluminum bar. Closing at CNY 14,350 ($2,338) per metric ton, Chinese aluminum billet remained unchanged for the week.
At KRW 4,210 ($3.77) per kilogram, the price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Closing at KRW 4,360 ($3.91) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week. At EUR 2,605 ($3,436) per metric ton, the week finished with no movement for European 5083 plate. At EUR 2,050 ($2,704) 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.