The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary aluminum, which saw a 4.0 percent increase on the LME to $1,769 per metric ton. This comes on the heels of a 1.1 percent decline the week prior. The aluminum 3-month price rose 3.9 percent on the LME to $1,815 per metric ton after falling 1.1 percent during the previous week. The cash price of primary Indian aluminum rose 2.5 percent to INR 112.00 ($1.82) per kilogram after falling 1.1 percent during the previous week.
Chinese aluminum prices were mixed for the week. The Chinese aluminum cash price settled at CNY 14,330 ($2,360) per metric ton this week after shifting up 0.4 percent. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,339) per metric ton. Following a steady week, prices for Chinese aluminum billet closed flat at CNY 14,200 ($2,339) per metric ton.
Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 4,210 ($4.00) per kilogram. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week at KRW 4,360 ($4.14) per kilogram. European 5083 plate traded sideways last week, hovering around EUR 2,520 ($3,462) per metric ton. At EUR 2,038 ($2,800) per metric ton, 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.