The first orders for the 737 Max aircraft from China are in and it looks as though Boeing should be happy.
“Boeing Co has secured commitments for around 200 of its 737 Max aircraft, the upgraded variant of its best-selling short-haul planes, from multiple Chinese customers, said two sources familiar with the deals.”
“The deals are worth a combined $20.7 billion at list prices and must be approved by the Chinese government, a usual practice for aircraft orders in the country, before the customers can be identified, the sources said.”
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.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap declined 0.4 percent over the past week. The price of Chinese aluminum billet rose 0.3 percent after falling 1.4 percent during the previous week. The Chinese aluminum cash price rose 0.3 percent after falling 1.1 percent during the previous week.
Korean 3003 coil premium over 1050 sheet traded sideways last week. Korean 5052 coil premium over 1050 sheet remained unchanged for the week. The price of European 5083 plate did not change since the previous week. Following a steady week, prices for European 1050 aluminum closed flat.
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.