Aluminum MMI®: Chinese Aluminum Scrap Rises 6.0% for the Week

The week’s biggest mover on the weekly Aluminum MMI® was the price of Chinese aluminum scrap, which saw a 6.0 percent increase to CNY 12,480 ($2,063) per metric ton. This comes on the heels of a 3.5 percent decline the week prior. The Chinese aluminum cash price rose 0.4 percent to CNY 14,100 ($2,330) per metric ton after falling 0.8 percent during the previous week. At CNY 14,200 ($2,347) per metric ton, the price of Chinese aluminum bar did not change since the previous week. Chinese aluminum billet remained essentially flat from the previous week at CNY 14,200 ($2,347) per metric ton.

The primary aluminum cash price rose 3.2 percent on the LME to $1,764 per metric ton after falling 2.3 percent during the previous week. The aluminum 3-month price rose 3.2 percent on the LME to $1,811 per metric ton after falling 2.3 percent during the previous week. The cash price of primary Indian aluminum rose 1.5 percent to INR 112.05 ($1.81) per kilogram after falling 1.0 percent during the previous week.

European 5083 plate dropped 4.2 percent over the past week to EUR 2,414 ($3,324) per metric ton. European 1050 aluminum gained a slight 1.3 percent this past week, finishing at EUR 2,064 ($2,842) per metric ton. Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($4.00) per kilogram. Prices for Korean 5052 coil premium over 1050 sheet remained constant, closing the week at KRW 4,360 ($4.14) per kilogram.

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.