This past week, Chinese aluminum billet dropped 4.3 percent on the weekly Aluminum MMI®, landing at CNY 13,590 ($2,246) per metric ton as the week’s biggest mover. The Chinese aluminum cash price fell 2.8 percent for the week to settle at CNY 13,580 ($2,244) per metric ton. Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,200 ($2,347) per metric ton. Chinese aluminum scrap prices held steady from the previous week at CNY 12,350 ($2,041) per metric ton.
Following a 1.3 percent drop on the LME, the aluminum 3-month price finished the week at $1,760 per metric ton. The cash price of primary aluminum declined to $1,715 per metric ton after drifting 1.2 percent on the LME since last week. With a 0.6 percent decrease, the cash price of primary Indian aluminum closed the week at INR 109.60 ($1.78) per kilogram.
Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,210 ($3.96) per kilogram. At KRW 4,360 ($4.10) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. Closing at EUR 2,414 ($3,285) per metric ton, European 5083 plate remained unchanged for the week. European 1050 aluminum traded sideways last week, hovering around EUR 2,064 ($2,808) 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.