A 5.0 percent improvement on the weekly Aluminum MMI® made European 1050 aluminum the week’s biggest mover, closing at EUR 2,147 ($2,834) per metric ton. European 5083 plate gained a slight 2.4 percent this past week, finishing at EUR 2,651 ($3,499) per metric ton. At KRW 4,210 ($3.85) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($3.98) per kilogram.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap rose 3.6 percent to CNY 12,680 ($2,072) per metric ton after falling 3.0 percent during the previous week. Chinese aluminum billet saw a 0.3 percent decline over the past week to CNY 14,300 ($2,337) per metric ton. The Chinese aluminum cash price fell 0.2 percent last week, settling at CNY 14,335 ($2,342) per metric ton.
The cash price of primary Indian aluminum fell 4.8 percent to INR 115.85 ($1.74) per kilogram after rising 0.2 percent the week before. The cash price of primary aluminum fell 4.5 percent on the LME over the past week, settling at $1,744 per metric ton. The aluminum 3-month price fell to $1,796 per metric ton on the LME, a 4.3 percent change from the prior 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.