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. 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. Closing out the third week of declining prices, the cash price of Chinese aluminum dropped by 0.2 percent. Chinese aluminum bar remained essentially flat from the previous week.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week. The price of European 5083 plate did not change since the previous week. 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.