This week, the Aluminum Company of China (CHALCO) posted its smallest loss of the year.
The 2017 Jeep Wrangler became the latest vehicle to get an aluminum body makeover. According to the Automotive News, the 2017 Wrangler will have a frame-on-rails body built out of aluminum at its current Toledo, Ohio, production facility.
Closing at INR 125.40 ($2.05) per kilogram, a 3.2% increase made the Indian aluminum cash price the week’s biggest mover on the weekly Aluminum MMI®. The primary aluminum cash price rose 1.6% on the LME over the past week to $2,012 per metric ton. This was the third week in a row of increasing prices. Closing out the third week of rising prices, the aluminum 3-month price increased by 0.9% on the LME, landing at $2,014 per metric ton.
Chinese aluminum prices were flat for the week. Following a steady week, prices for the Chinese aluminum cash price closed flat at CNY 13,960 ($2,273) per metric ton. Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,312) per metric ton. Closing at CNY 13,590 ($2,213) per metric ton, Chinese aluminum billet remained unchanged for the week.
At KRW 3,740 ($3.50) per kilogram, the week finished with no movement for Korean 3003 coil premium over 1050 sheet. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 3,890 ($3.64) per kilogram. Prices for European 5083 plate remained constant, closing the week at EUR 2,841 ($3,593) per metric ton. At EUR 2,365 ($2,991) per metric ton, the price of European 1050 aluminum did not change since 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.