The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 2.2 percent decline to INR 110.50 ($1.77) per kilogram. At $1,721 per metric ton, the cash price of primary aluminum finished the week down 1.1 percent on the LME. The aluminum 3-month price fell 1.0 percent on the LME over the past week to $1,767 per metric ton. This was the third week in a row of declining prices.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum dropped 0.6 percent this week, closing out the third consecutive week of falling prices at CNY 14,280 ($2,344) per metric ton. Closing out the third week of declining prices, the price of Chinese aluminum billet dropped by 0.3 percent, finishing at CNY 14,250 ($2,339) per metric ton. Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,331) per metric ton.
European 1050 aluminum saw a 2.0 percent decline over the past week to EUR 2,038 ($2,766) per metric ton. At EUR 2,520 ($3,420) per metric ton, the week finished with no movement for European 5083 plate. Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3.99) per kilogram. At KRW 4,360 ($4.13) per kilogram, the price of Korean 5052 coil premium over 1050 sheet 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.