Closing at $1,746 per metric ton on the weekly Aluminum MMI®, the cash price of primary aluminum finished as the week’s biggest mover with a 2.2 percent decline on the LME. Following a 2.0 percent drop on the LME, the aluminum 3-month price finished the week at $1,794 per metric ton. The Indian aluminum cash price rose 0.2 percent to INR 114.60 ($1.81) per kilogram after falling 1.3 percent during the previous week.
Chinese aluminum prices were mixed for the week. Chinese aluminum scrap saw a 0.5 percent decline over the past week to CNY 12,740 ($2,091) per metric ton. The price of Chinese aluminum billet declined 0.3 percent over the past week, settling at CNY 14,350 ($2,355) per metric ton. With a 0.3 percent decrease, the cash price of Chinese aluminum closed the week at CNY 14,390 ($2,362) per metric ton.
Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 4,210 ($3.97) per kilogram. At KRW 4,360 ($4.11) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet. Following a steady week, prices for European 5083 plate closed flat at EUR 2,522 ($3,409) per metric ton. At EUR 2,079 ($2,810) per metric ton, the price of European 1050 aluminum did not change since the previous 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.