The monthly Aluminum MMI® registered a value of 91 in August, an increase of 1.1 percent from 90 in July.
After dropping the previous month, the price of Chinese aluminum scrap prices rose 3.4 percent to $2,061 per metric ton. The price of Chinese aluminum billet rose 2.5 percent to $2,325 per metric ton after falling the previous month. After dropping the previous month, the Indian aluminum cash price prices rose 1.4 percent to $1.78 per kilogram.
At $2,327 per metric ton, the Chinese aluminum cash price was down 0.8 percent. European 5083 plate closed the month at $3,445 per metric ton after dropping 0.6 percent. The value of European 1050 aluminum weakened by 0.2 percent this month, settling at $2,720 per metric ton.
On the LME, the 3-month price of aluminum remained essentially flat for the month at $1,778 per metric ton. On the LME, the primary aluminum cash price held pat last month at $1,732 per metric ton. Prices for Korean 3003 coil premium over 1050 sheet remained constant this past month, holding at around $3.75 per kilogram. Korean 5052 coil premium over 1050 sheet held pat last month at $3.88 per kilogram. At a price of $2,293 per metric ton, Chinese aluminum bar did not budge the entire month. Korean 1050 aluminum sheet experienced a flat month, staying around $3.70 per kilogram.
The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends over a 30-day period. 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.