The week’s biggest mover on the weekly Aluminum MMI®, Chinese aluminum scrap jumped 4.6 percent. The cash price of Chinese aluminum fell 0.8 percent after rising 0.3 percent the week before. Chinese aluminum billet fell 0.7 percent over the past week. Chinese aluminum bar remained essentially flat.
Following a 1.9 percent increase in the week prior, the cash price of primary aluminum fell 4.2 percent on the LME last week to $1,732 per metric ton. The 3-month price of aluminum fell 3.9 percent on the LME to $1,778 per metric ton after rising 1.9 percent the week before. The cash price of primary Indian aluminum rose 2.6 percent over the past week.
European 5083 plate saw a 0.6 percent decline over the past week. After a 0.2 percent decline, European 1050 aluminum closed out the week. Korean 3003 coil premium over 1050 sheet remained unchanged for the week. Also no movement for Korean 5052 coil premium over 1050 sheet.
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.