The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 4.6 percent decline to INR 110.60 ($1.80) per kilogram. This comes on the heels of a 4.8 percent increase the week before. The cash price of primary aluminum fell 2.8 percent on the LME to $1,787 per metric ton after rising 3.7 percent the week before. Following a 3.7 percent increase in the week prior, the 3-month price of aluminum fell 2.8 percent on the LME last week to $1,835 per metric ton.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet fell 1.4 percent to CNY 14,400 ($2,361) per metric ton after rising 0.7 percent the week before. The cash price of Chinese aluminum fell 1.1 percent last week, settling at CNY 14,440 ($2,367) per metric ton. Following a 1.1 percent increase in the week prior, the price of Chinese aluminum scrap fell 0.7 percent last week to CNY 12,860 ($2,108) per metric ton.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.95) per kilogram. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($4.10) per kilogram. European 5083 plate prices held steady from the previous week at EUR 2,656 ($3,591) per metric ton. Closing at EUR 2,112 ($2,855) 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.