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 […]
Tag: aluminum prices
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 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 […]
Construction MMI: Construction Spending Rises but Construction Index Falls
The Construction MMI (Monthly Metals Index) strayed from its sideways trend to drop 6.84% month-over-month. A drop in European commercial aluminum 1050 sheet prices was the main culprit in the index’s decline. Construction news sources indicate with steel prices finally flattening out in recent weeks, the index could face further bearish pressure. Despite this, construction […]
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 […]
Aluminum MMI: Aluminum Prices Sideways Amid LME’s Russia Problem
Aluminum prices continue to lack enough strength to form either bearish or bullish trends. Since aluminum prices have yet to break out of range meaningfully and there is no established uptrend or downtrend, the market remains highly risky. Altogether, the Aluminum Monthly Metals Index (MMI) dropped 3.19% from May to June. Russian Aluminum in LME […]
Construction MMI: Canadian Wildfire Smoke Puts a Halt on NYC Construction
The Construction MMI (Monthly Metals Index) stayed within a tight range, but dropped more than in the previous three months. Overall, the index fell by 5.04% month-on-month. Meanwhile, steel prices continued to slide, which brought noticeable bearish pressure to the index. However, within the first couple weeks of June, H-beam steel and steel rebar prices […]
