The week’s biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 1.6 percent decline. 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. The Chinese aluminum cash price fell 0.9 percent after rising 0.4 percent the week before. Chinese aluminum bar remained essentially flat from the previous week.
Korean 3003 coil premium over 1050 sheet traded sideways last week. The week finished with no movement for Korean 5052 coil premium over 1050 sheet. European 5083 plate remained unchanged for the week. European 1050 aluminum prices held steady from 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.