The week’s biggest mover on the weekly Aluminum MMI® was the 3-month price of aluminum, which saw a 1.2 percent decline on the LME to $1,784 per metric ton. This comes on the heels of a 0.5 percent increase the week before. The cash price of primary Indian aluminum dropped 0.9 percent this week, closing out the third consecutive week of falling prices at INR 110.10 ($1.73) per kilogram. The primary aluminum cash price fell 0.8 percent on the LME to $1,742 per metric ton after rising 0.7 percent the week before.
Chinese aluminum prices were mixed for the week. In the past week, Chinese aluminum billet saw its price shift up 0.3 percent to CNY 14,350 ($2,345) per metric ton. Following a 0.1 percent increase in the week prior, the price of Chinese aluminum scrap fell 0.3 percent last week to CNY 12,660 ($2,069) per metric ton. The cash price of Chinese aluminum rose 0.1 percent over the past week to CNY 14,360 ($2,346) per metric ton.
Korean 3003 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,210 ($3.89) per kilogram. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat at KRW 4,360 ($4.03) per kilogram. 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.