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 after falling 1.1 percent during the previous week.
Chinese aluminum prices were mixed for the week. The Chinese aluminum cash price settled this week after shifting up 0.4 percent. Chinese aluminum bar remained essentially flat from the previous week. Following a steady week, prices for Chinese aluminum billet closed flat.
Prices for Korean 3003 coil premium over 1050 sheet remained constant. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week. European 5083 plate traded sideways last week. 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.