Overall, the Aluminum Monthly Metals Index (MMI) rose 7.06% from April to May. The aluminum price remained bullish throughout April, rising 11.47% month over month. However, prices found a peak on April 22 when they failed to break above their 2023 high. They then retraced to the downside during the remainder of the month and […]
Tag: Aluminum MMI
Aluminum MMI: Prices Inch Toward 2023 High Amid China Supply Cut
Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a 2.03% rise from March to April. Aluminum prices outperformed all base metals throughout March, with a 4.71% rise from the close of February. Prices continued their rally throughout April, hitting their highest level since February 2023 by April 8. Aluminum Prices Chase 2023 Highs […]
Aluminum MMI: Aluminum Prices Rise As China Output Slows
Aluminum prices remain entrenched within a sideways trend. Following a 2.78% month-over-month decline in February, prices retraced throughout the first three weeks of March to where they currently stand: 2.17% above their February close. Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, with a 2.36% decline from February to March. AI vastly improves your […]
Aluminum MMI: Aluminum Prices Sideways After U.S. Smelter Closure
Following a 4.7% month-over-month decline during January, aluminum prices fell an additional 1.9% throughout the first half of February. Despite these declines, aluminum prices continued to trade in their long-term sideways range. Meanwhile, the Midwest Premium also remains consolidated, with prices retracing to the downside following a short-lived bounce at the end of January. Overall, […]
Aluminum MMI: U.S. Demand Muted, Russian LME Stocks Hit 90%
Following a more than 8% month-over-month increase in December, aluminum prices retraced during the first weeks of January, returning to their sideways trend. Markets appeared to shake off alumina supply jitters that saw prices spike at the end of 2023, as global demand remains muted. Nonetheless, there remains no expert consensus as to the overall […]
Aluminum MMI: Aluminum Prices Sideways as UK Sanctions Leave Market Uncertainty
Aluminum prices continued to trade sideways during November and the first three weeks of December. Amid the long-term consolidation, prices sit only 6% beneath where they stood at the start of the year. Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a modest 0.34% decline from November to December. MetalMiner’s 2024 Annual Metals […]
Aluminum MMI: Aluminum Prices Sideways as Premiums Remain Bearish
Although they fell 4.29% throughout October, aluminum prices remain trapped within a sideways trend established back in July. Prices retraced from their late-September spike but failed to create a lower low. Therefore, they continue to move within a tight range. Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a modest 0.72% decline from […]
Aluminum MMI: Hydro Bets Big on Lower Carbon Aluminum, Aluminum Prices Remain Mostly Flat
LME aluminum prices edged sideways throughout August, with a modest 1.69% month-over-month rise. Meanwhile, prices show little bullish or bearish momentum as they continue to trade within a tight range. Overall, the Aluminum Monthly Metals Index (MMI) continued to move sideways as well, rising a modest 0.79% from August to September. Get valuable market trends, […]
Aluminum MMI: LME Aluminum Prices Rise As Midwest Premium Falls
Although aluminum prices started to rebound in the short term, they have yet to breach ranges that would signal the beginning of a new trend. Indeed, prices continue to create an uncertain environment for the aluminum market due to the lack of direction. Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, rising a modest […]
Aluminum MMI: Russian Metal Hits 80% of LME, Aluminum Prices Rise in July
Aluminum prices continued to slide throughout June but appeared to find a bottom in early July. Prices started to form relief patterns in the short term, rising following bearish price action over recent months. Meanwhile, cooling inflation data saw market sentiment improve. The U.S. dollar index, which has an inverse correlation to metal prices, dropped […]
