Aluminum physical delivery premiums finally started to fall this week. MetalMiner’s Stuart Burns wrote that speculation is ongoing as to what is behind greater availability but most attribute it to a combination of slow demand in Europe, rising exports from China and traders/funds being unable to roll material over in financing deals due to the flat forward curve on the London Metal Exchange.

Free Download: Buying Overseas Aluminum? Lock in Your Shipping Costs

The aluminum 3-month price closed last week at $1,801 per metric ton, after a 1.0% drop on the LME. Following a 0.8% drop on the LME, the primary aluminum cash price finished the week at $1,784 per metric ton.

Following a 1.6% decline to INR 110.80 ($1.79) per kilogram, the cash price of primary Indian aluminum finished as the week’s biggest mover on the weekly Aluminum MMI®.

Chinese aluminum prices were flat for the week. The cash price of Chinese aluminum remained steady from the previous week at CNY 12,910 ($2,063) per metric ton. At CNY 13,700 ($2,189) per metric ton, the week finished with no movement for Chinese aluminum bar. At CNY 12,940 ($2,067) per metric ton, the price of Chinese aluminum billet did not change since the previous week.

* Get the complete prices every day on the MetalMiner IndX℠

The price of Korean 3003 coil premium over 1050 sheet rose 0.3% to KRW 3,847 ($3.50) per kilogram after falling 4.4% during the previous week. The price of Korean 5052 coil premium over 1050 sheet rose 0.3% to KRW 3,997 ($3.63) per kilogram after falling 4.3% during the previous week. Prices for European 5083 plate remained constant, closing the week at EUR 2,897 ($3,293) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,617 ($2,974) 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.