European 5083 plate saw a 5.0 percent decline this week, finishing at EUR 2,522 ($3,461) per metric ton and making it the week’s biggest mover on the weekly Aluminum MMI®. European 1050 aluminum saw a 1.6 percent decline over the past week to EUR 2,079 ($2,853) per metric ton. Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 4,210 ($3.96) per kilogram. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($4.10) per kilogram.
Chinese aluminum prices were flat for the week. The cash price of Chinese aluminum traded sideways last week, hovering around CNY 14,500 ($2,380) per metric ton. At CNY 14,200 ($2,330) per metric ton, the price of Chinese aluminum bar did not change since the previous week. Chinese aluminum billet traded sideways last week, hovering around CNY 14,450 ($2,371) per metric ton.
The Indian aluminum cash price saw a 4.7 percent increase in its price, hitting INR 115.80 ($1.89) per kilogram. The cash price of primary aluminum rose 1.2 percent on the LME this week, closing out the third week at $1,843 per metric ton. Closing out the third week of rising prices, the aluminum 3-month price increased by 1.2 percent on the LME, landing at $1,891 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.