Despite downward market pressure on all commodities, physical delivery premiums for aluminum kept rising this week.
This is the fifth straight quarter of price increases. In England, the world’s first plastic-aluminum laminate (PAL) recycling center opened. PALs are those pouches you get that hold pet food, drinks or snacks. Recycling PALs could lead to a major shift in the packaging industries.
The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 4.2% increase to INR 115.35 ($1.87) per kilogram. This comes on the heels of a 2.5% decline the week prior. The cash price of primary aluminum rose 3.7% on the LME to $1,831 per metric ton after falling 0.3% during the previous week. The aluminum 3-month price rose 2.8% on the LME to $1,832 per metric ton after falling 1.3% during the previous week.
Chinese aluminum prices were mixed for the week. The price of Chinese aluminum scrap rose 3.4% to CNY 12,300 ($1,980) per metric ton after falling 3.3% during the previous week. The Chinese aluminum cash price rose 1.9% to CNY 12,730 ($2,049) per metric ton after falling 2.1% during the previous week. The price of Chinese aluminum bar rose 1.9% to CNY 12,740 ($2,051) per metric ton after falling 2.1% during the previous week.
Closing at KRW 4,340 ($4.02) per kilogram, Korean 3003 coil premium over 1050 sheet remained unchanged for the week. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week at KRW 4,490 ($4.16) per kilogram. At EUR 2,843 ($3,297) per metric ton, the price of European 5083 plate did not change since the previous week. European 1050 aluminum traded sideways last week, hovering around EUR 2,499 ($2,898) 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.