The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 4.8 percent increase. This week marked the third in a row of rising prices for the metal. At $1,839 per metric ton, the primary aluminum cash price finished the week 3.7 percent higher on the LME. Closing out the third week of rising prices, the aluminum 3-month price increased by 3.7 percent on the LME, landing at $1,887 per metric ton.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap increased by a slight 1.1 percent over the past week. Chinese aluminum billet rose by a slight 0.7 percent. Following a 0.8 percent increase in the week prior, the cash price of Chinese aluminum fell 0.3 percent last week.
Korean 3003 coil premium over 1050 sheet remained unchanged for the week. The week finished with no movement for Korean 5052 coil premium over 1050 sheet. European 5083 plate traded sideways last week. The price of European 1050 aluminum did not change since 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.