The week’s biggest mover on the weekly Aluminum MMI® was the Chinese aluminum cash price, which saw a 1.2 percent increase to CNY 14,530 ($2,374) per metric ton. This week marked the third in a row of rising prices for the metal. Following a 1.0 percent increase, Chinese aluminum billet finished the week at CNY 14,500 ($2,369) per metric ton. The price of Chinese aluminum scrap rose 0.7 percent to CNY 12,745 ($2,082) per metric ton after falling 0.3 percent during the previous week. Chinese aluminum bar traded sideways last week, hovering around CNY 14,200 ($2,320) per metric ton.
The aluminum 3-month price rose 0.7 percent on the LME to $1,796 per metric ton after falling 1.2 percent during the previous week. The primary aluminum cash price rose 0.5 percent on the LME to $1,751 per metric ton after falling 0.8 percent during the previous week. The Indian aluminum cash price dropped 0.5 percent this week, closing out the third consecutive week of falling prices at INR 109.60 ($1.76) per kilogram.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.89) per kilogram. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.03) per kilogram. Closing at EUR 2,651 ($3,530) per metric ton, European 5083 plate remained unchanged for the week. At EUR 2,147 ($2,859) per metric ton, the week finished with no movement for European 1050 aluminum.
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.