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 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. The price of Chinese aluminum billet declined 0.3 percent over the past week. With a 0.3 percent decrease, the cash price of Chinese aluminum closed the week.
Prices for Korean 3003 coil premium over 1050 sheet remained constant. 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. 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.