Aluminum prices broke out of their sideways trend last month with strong upside price action. Prices rallied during the first half of November, followed by a modest retracement before they continued upward. Overall, the Aluminum Monthly Metals Index (MMI) saw a modest 1.04% increase from November to December. The MetalMiner Insights platform includes global aluminum […]
Tag: Aluminum MMI
Aluminum MMI: Aluminum Prices Decline as Energy Crisis Worsens
This week, aluminum prices approached long-term weekly demand zones. These are price levels that typically trigger a strong upswing. Before the most recent short-term declines, prices bounced off these levels, rising back into zones of strong downward movement (supply zones). Should prices continue to break downward, it could indicate a downtrend continuation. Moreover, the longer […]
Aluminum MMI: LME aluminum prices retreated from all-time high
The Aluminum Monthly Metals Index (MMI) increased by 4.0%, as aluminum prices retreated from an all-time high. Aluminum prices remain bullish Aluminum prices showed downside price action and headed toward the previous month’s dips. Such declines do not change the overall outlook toward the upside. Aluminum prices continue to form chart structures that suggest overall […]
Aluminum MMI: Aluminum prices spike amid escalation of Russia-Ukraine war
The Aluminum Monthly Metals Index (MMI) climbed by 8.0%, as aluminum prices spiked on the heels of Russia’s invasion of Ukraine. Aluminum prices spiked as tensions escalated between Russia and Ukraine. However, aluminum prices then began a slight decline before the launch of Russia’s full-scale invasion. MetalMiner publishes a wide range of aluminum price points […]
Aluminum MMI: Energy crisis hits production, buoys prices
The Aluminum Monthly Metals Index (MMI) rose 4.8% following two consecutive months of decline. After a sharp 7.6% drop in the early days of November, prices appeared to have found a bottom and formed a bullish “cup and handle” technical pattern around the summer support levels. Aluminum prices have broken out of the bullish pattern […]
Aluminum MMI: Aluminum prices move sideways, production to increase
The Aluminum Monthly Metals Index (MMI) fell for the second consecutive month, this month dropping by 3.9% as aluminum prices trended sideways. After a sharp 7.6% drop in the early days of November, aluminum prices appeared to have found a bottom. Prices then traded sideways at summer support levels. Currently, aluminum is in a period […]
Aluminum MMI: Following all-time high, aluminum prices plummet
The Aluminum Monthly Metals Index (MMI) fell for the first time in nine months, dropping by 1.5%. After prices hit the record peak in late October, aluminum started to face some speed bumps when the price attempted to continue to trade upward. Since Beijing’s intervention into the coal market, LME aluminum prices began to retrace […]
Aluminum MMI: Aluminum remains high but stays below all-time high
The Aluminum Monthly Metals Index (MMI) went up by 3.1% this month, as all forms of aluminum jumped this month. We’re offering timely emails with exclusive analyst commentary and some best practice advice. Sign up here. Primary capacity interest Historically high prices, increasing demand and production cuts in China have opened a window of opportunity […]
Aluminum MMI: Rising aluminum prices concern Beijing
The Aluminum Monthly Metals Index (MMI) increased by 4.1% for this month’s reading. Do you know the five best practices of sourcing metals, including aluminum? LME three-month aluminum prices are only $100/mt away from 2011 prices. Overall, LME aluminum traded up despite some volatility in August. Prices took their largest dip Aug. 16-19 before recovering. […]
Aluminum MMI: Prices almost reach decade high
The Aluminum Monthly Metals Index (MMI) increased by 7.0%. Prices remain historically high, with Chinese prices increasing the most this month. Throughout July, LME aluminum traded mostly sideways until the last few days of the month when the price spiked. LME prices reached $2,619/mt on Aug. 1. Prices are close to the decade high of […]