The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 1.4 percent decline to INR 113.00 ($1.80) per kilogram. This comes on the heels of a 0.2 percent increase the week before. The aluminum 3-month price fell 0.5 percent on the LME over the past week to $1,786 per metric ton. This was the third week in a row of declining prices. At $1,740 per metric ton, the primary aluminum cash price finished the week down 0.3 percent on the LME.
Chinese aluminum prices were mixed for the week. Chinese aluminum billet saw a 0.3 percent decline over the past week to CNY 14,300 ($2,347) per metric ton. Closing out the third week of declining prices, the cash price of Chinese aluminum dropped by 0.2 percent, finishing at CNY 14,360 ($2,357) per metric ton. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,331) per metric ton.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.99) per kilogram. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.13) per kilogram. At EUR 2,522 ($3,421) per metric ton, the price of European 5083 plate did not change since the previous week. Closing at EUR 2,079 ($2,820) per metric ton, European 1050 aluminum remained unchanged for the 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.