A 1.6 percent decline in European 1050 aluminum made it the biggest mover of the week, closing at EUR 2,112 ($2,856) per metric ton on the weekly Aluminum MMI®. European 5083 plate prices ticked up 0.2 percent over the past week to EUR 2,656 ($3,592) per metric ton. At KRW 4,210 ($3.92) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. Closing at KRW 4,360 ($4.06) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum increased 0.8 percent this week, closing out the fourth consecutive week of rising prices at CNY 14,640 ($2,392) per metric ton. The price of Chinese aluminum scrap rose 0.5 percent over the past week to CNY 12,815 ($2,094) per metric ton. This was the fourth week in a row of increasing prices. Chinese aluminum bar traded sideways last week, hovering around CNY 14,200 ($2,320) per metric ton.
The 3-month price of aluminum rose 1.3 percent on the LME over the past week to $1,820 per metric ton. On the LME, a 1.3 percent gain landed the cash price of primary aluminum at $1,773 per metric ton. The cash price of primary Indian aluminum rose 0.9 percent to INR 110.55 ($1.78) per kilogram after falling 0.5 percent during 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.