The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary aluminum, which saw a 3.2 percent decline on the LME to $1,784 per metric ton. This comes on the heels of a 1.2 percent increase the week before. Following a 1.2 percent increase in the week prior, the 3-month price of aluminum fell 3.2 percent on the LME last week to $1,830 per metric ton. The cash price of primary Indian aluminum fell 1.3 percent to INR 114.35 ($1.83) per kilogram after rising 4.7 percent the week before.
Chinese aluminum prices were mixed for the week. Since last week, the price of the cash price of Chinese aluminum fell to CNY 14,440 ($2,370) per metric ton after moving 0.4 percent. Chinese aluminum billet prices were off slightly at CNY 14,400 ($2,363) per metric ton, down from CNY 14,450 ($2,371) a week ago. Closing at CNY 14,200 ($2,331) per metric ton, Chinese aluminum bar remained unchanged for the week.
At KRW 4,210 ($3.97) per kilogram, the price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,360 ($4.11) per kilogram. At EUR 2,522 ($3,409) per metric ton, the week finished with no movement for European 5083 plate. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,079 ($2,810) 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.