The week’s biggest mover on the weekly Aluminum MMI® was the Chinese aluminum cash price, which saw a 1.3 percent decline to CNY 14,150 ($2,331) per metric ton. This comes on the heels of a 0.4 percent increase the week before. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,339) per metric ton. Chinese aluminum billet traded sideways last week, hovering around CNY 14,200 ($2,339) per metric ton. Following a steady week, prices for Chinese aluminum scrap closed flat at CNY 12,200 ($2,010) per metric ton.
The cash price of primary aluminum fell 1.1 percent on the LME to $1,749 per metric ton after rising 4.0 percent the week before. Following a 3.9 percent increase in the week prior, the aluminum 3-month price fell 1.0 percent on the LME last week to $1,797 per metric ton. The Indian aluminum cash price fell 0.4 percent to INR 111.50 ($1.80) per kilogram after rising 2.5 percent the week before.
At KRW 4,210 ($4.00) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. Following a steady week, prices for Korean 5052 coil premium over 1050 sheet closed flat 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.