Aluminum MMI®: Chinese Aluminum Scrap Falls 4.2%

by on
Style:
Category:
Metal Prices, Premium

The biggest mover this week was Chinese aluminum scrap with a 4.2 percent fall on the weekly Aluminum MMI® to close the week at CNY 12,200 ($2,003) per metric ton. The price of Chinese aluminum billet fell 0.4 percent over the past week to CNY 14,200 ($2,331) per metric ton. This was the fourth week in a row of declining prices. The cash price of Chinese aluminum remained steady from the previous week at CNY 14,280 ($2,344) per metric ton. Closing at CNY 14,200 ($2,331) per metric ton, Chinese aluminum bar remained unchanged for the week.

The primary aluminum cash price fell 1.1 percent on the LME over the past week to $1,701 per metric ton. This was the third week in a row of declining prices. The aluminum 3-month price fell 1.1 percent on the LME over the past week to $1,747 per metric ton. This was the third week in a row of declining prices. The Indian aluminum cash price fell 1.1 percent over the past week to INR 109.30 ($1.77) per kilogram. This was the third week in a row of declining prices.

Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat at KRW 4,210 ($3.96) per kilogram. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($4.11) per kilogram. European 5083 plate remained essentially flat from the previous week at EUR 2,520 ($3,420) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,038 ($2,766) per metric ton.

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.

{Comments Off on Aluminum MMI®: Chinese Aluminum Scrap Falls 4.2% Comments Off on Aluminum MMI®: Chinese Aluminum Scrap Falls 4.2%}