This past week saw the Indian aluminum cash price drop 4.1 percent, closing as the biggest mover on the weekly Aluminum MMI® at INR 111.15 ($1.76) per kilogram. The primary aluminum cash price rose 0.7 percent on the LME to $1,756 per metric ton after falling 4.5 percent during the previous week. The aluminum 3-month price rose 0.5 percent on the LME to $1,805 per metric ton after falling 4.3 percent during the previous week.
Chinese aluminum prices were mixed for the week. Closing at CNY 12,695 ($2,075) per metric ton for the week, Chinese aluminum scrap rose by a slight 0.1 percent. The cash price of Chinese aluminum remained steady from the previous week at CNY 14,340 ($2,344) per metric ton. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,321) per metric ton.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.88) per kilogram. At KRW 4,360 ($4.01) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. Prices for European 5083 plate remained constant, closing the week at EUR 2,651 ($3,530) per metric ton. Closing at EUR 2,147 ($2,859) per metric ton, European 1050 aluminum remained unchanged for the 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.