The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Chinese aluminum, which saw a 1.3 percent decline. This comes on the heels of a 0.8 percent increase the week before.
Chinese aluminum bar remained essentially flat from the previous week. Following a steady week, prices for Chinese aluminum billet closed flat. Chinese aluminum scrap remained unchanged for the week.
The cash price of primary Indian aluminum fell 0.7 percent after rising 3.0 percent the week before. The aluminum 3-month price rose 0.5 percent on the LME over the past week to $1,780 per metric ton. This was the third week in a row of increasing prices. At $1,735 per metric ton, the cash price of primary aluminum finished the week 0.5 percent higher on the LME.
Prices for Korean 3003 coil premium over 1050 sheet remained constant. Korean 5052 coil premium over 1050 sheet traded sideways last week. European 5083 plate prices held steady from the previous week also. Following a steady week, prices for European 1050 aluminum closed flat.
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.