The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary aluminum, which saw a 1.9 percent increase on the LME to $1,821 per metric ton. This comes on the heels of a 2.8 percent decline the week prior. The 3-month price of aluminum rose 1.9 percent on the LME to $1,869 per metric ton after falling 2.8 percent during the previous week. Following a steady week, prices for the cash price of primary Indian aluminum closed flat at INR 110.65 ($1.80) per kilogram.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap declined 0.4 percent over the past week, settling at CNY 12,810 ($2,106) per metric ton. The price of Chinese aluminum billet rose 0.3 percent to CNY 14,450 ($2,376) per metric ton after falling 1.4 percent during the previous week. The Chinese aluminum cash price rose 0.3 percent to CNY 14,490 ($2,382) per metric ton after falling 1.1 percent during the previous week.
Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3.96) per kilogram. Closing at KRW 4,360 ($4.10) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week. At EUR 2,656 ($3,618) per metric ton, the price of European 5083 plate did not change since the previous week. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,112 ($2,877) per metric ton.
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.