Chinese aluminum scrap finished as the week’s biggest mover on the weekly Aluminum MMI® after dropping 3.5 percent. Since last week, the price of the Chinese aluminum cash price fell after moving 0.8 percent. Following a steady week, prices for Chinese aluminum bar closed flat. 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.
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. The week finished with no movement for European 5083 plate. Prices for European 1050 aluminum remained constant, closing the 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.