The biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 5.9 percent increase. This week marked the third in a row of rising prices for the metal.
On the LME, the 3-month price of aluminum ticked up 1.0 percent over the past week to $1,902 per metric ton. The cash price of primary aluminum rose 1.0 percent on the LME over the past week to $1,852 per metric ton.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet rose by a slight 0.7 percent. The Chinese aluminum cash price settled after shifting up 0.3 percent. Following a steady week, prices for Chinese aluminum bar closed flat.
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. The week finished with no movement for European 5083 plate. European 1050 aluminum remained essentially flat from 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.