Aluminum MMI®: LME Aluminum Spot Price Dives This Week

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The week’s biggest mover on the weekly Aluminum MMI® was the aluminum cash price, which saw a 3.2 percent decline on the LME to $2,012 per metric ton.

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In other aluminum news, Rusal and Chalco considered teaming up for eastern Siberian exploration and Rio Tinto undercut its competitors to win a Japanese price-setting war.

The aluminum 3-month price fell 1.9 percent on the LME to $2,051 per metric ton after rising 0.2 percent the week before. Last week, the cash price of primary Indian aluminum increased by a slight 0.2 percent to INR 126.70 ($2.08) per kilogram.

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Chinese aluminum prices were flat for the week. At CNY 13,960 ($2,277) per metric ton, the cash price of Chinese aluminum remained essentially flat. Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,316) per metric ton. At CNY 13,590 ($2,217) per metric ton, the week finished with no movement for Chinese aluminum billet.

Korean 3003 coil premium over 1050 sheet traded sideways last week, hovering around KRW 3,740 ($3.62) per kilogram. Closing at KRW 3,890 ($3.76) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week. European 5083 plate remained essentially flat from the previous week at EUR 2,774 ($3,583) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,489 ($3,215) 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.

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