Aluminum MMI®: Cash Price of Primary Indian Aluminum Falls 1.6% for the Week

The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 1.6 percent decline to INR 110.25 ($1.77) per kilogram. This comes on the heels of a 1.5 percent increase the week before. Following a 3.2 percent increase in the week prior, the primary aluminum cash price fell 1.6 percent on the LME last week to $1,736 per metric ton. The 3-month price of aluminum fell 1.6 percent on the LME to $1,782 per metric ton after rising 3.2 percent the week before.

Chinese aluminum prices were mixed for the week. Following a 6.0 percent increase in the week prior, the price of Chinese aluminum scrap fell 1.0 percent last week to CNY 12,350 ($2,041) per metric ton. The Chinese aluminum cash price fell 0.9 percent to CNY 13,975 ($2,309) per metric ton after rising 0.4 percent the week before. Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,346) per metric ton.

Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 4,210 ($3.95) per kilogram. At KRW 4,360 ($4.09) per kilogram, the week finished with no movement for Korean 5052 coil premium over 1050 sheet. Closing at EUR 2,414 ($3,276) per metric ton, European 5083 plate remained unchanged for the week. European 1050 aluminum prices held steady from the previous week at EUR 2,064 ($2,801) 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.