The weekly Aluminum MMI®, Chinese aluminum scrap finished as the week’s biggest mover with a 3.0 percent decline. The price of Chinese aluminum billet fell 0.3 percent after rising 0.7 percent the week before.
Following a 0.3 percent increase in the week prior, the cash price of Chinese aluminum fell 0.1 percent last week. Prices for Chinese aluminum bar remained constant.
The cash price of primary aluminum fell 1.4 percent on the LME to $1,826 per metric ton after rising 1.0 percent the week before. Following a 1.0 percent increase in the week prior, the 3-month price of aluminum fell 1.3 percent on the LME last week to $1,876 per metric ton.
The cash price of primary Indian aluminum increased 0.2 percent this week, closing out the fourth consecutive week of rising prices.
Korean 3003 coil premium over 1050 sheet traded sideways last week. Korean 5052 coil premium over 1050 sheet remained essentially flat. Following a steady week, prices for European 5083 plate closed flat. European 1050 aluminum prices held steady 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.