Aluminum MMI®: Chinese Aluminum Scrap Down 3.5%

Chinese aluminum scrap finished as the week’s biggest mover on the weekly Aluminum MMI® after dropping 3.5 percent and landing at CNY 11,770 ($1,937) per metric ton. Since last week, the price of the Chinese aluminum cash price fell to CNY 14,040 ($2,311) per metric ton after moving 0.8 percent. Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,200 ($2,337) per metric ton. Closing at CNY 14,200 ($2,337) per metric ton, Chinese aluminum billet remained unchanged for the week.

The 3-month price of aluminum fell 2.3 percent last week on the LME, settling at $1,755 per metric ton. The cash price of primary aluminum closed last week at $1,709 per metric ton, after a 2.3 percent drop on the LME. Following a 1.0 percent drop, the cash price of primary Indian aluminum finished the week at INR 110.35 ($1.79) per kilogram.

At KRW 4,210 ($3.97) per kilogram, the price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Korean 5052 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,360 ($4.11) per kilogram. At EUR 2,520 ($3,447) per metric ton, the week finished with no movement for European 5083 plate. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,038 ($2,787) 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.

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