LME aluminum

The monthly Aluminum MMI® registered a value of 93 in August, a decrease of 3.1 percent from 96 in July.

*Download exclusive August 2012 commentary for ALL MMIs — all 10 metals markets and industries in one place.

The Aluminum MMI® declined slightly more than it would have due to a change in the way aluminum scrap from China factors into the overall Aluminum MMI®.

The lion’s share of the decline came as a result of falling primary aluminum prices in China (as well as declining scrap prices), slightly lower European semis pricing — particularly for 1050 commercial sheet and 5083 plate — along with the primary cash price in India.

“This month’s index drop would have mirrored the one-point drop we saw in the Copper MMI®, but due to a re-factoring of the aluminum scrap price within the Chinese market, the Aluminum MMI® experienced a more significant drop,” said Lisa Reisman, managing director of MetalMiner.

“Therefore, we believe aluminum remains fairly well-supported, similar to the copper market, and we would urge readers not to draw too many conclusions regarding a strong negative price trend,” she continued.

Drivers of the Aluminum Price Index Drop

For the second month in a row, the price of Chinese aluminum scrap declined, falling 22.1 percent over the past month. The price of Chinese aluminum billet closed the month down 0.7 percent. Last month, the cash price of Chinese aluminum dropped one percent. Chinese aluminum bar prices decreased 0.4 percent.

On the LME, the aluminum 3-month price finished the month at $1,886 per metric ton after increasing one percent.

European 1050 aluminum drifted down 0.6 percent last month. European 5083 plate, meanwhile, saw its price drop 1.5 percent. The Indian aluminum cash price dropped one percent.

Both Korean 3003 coil premium over 1050 sheet and Korean 5052 coil premium over 1050 sheet inched up very slightly for the month. The price of Korean 1050 aluminum sheet made its way up slightly last month as well.

*Download exclusive August 2012 commentary for ALL MMIs — all 10 metals markets and industries in one place.

The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends over a 30-day period. 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.

With a 1.5 percent increase over the past day, the cash price of primary aluminum was the biggest mover on the LME, closing at $1,893 per metric ton on July 30, 2012. On the LME, the 3-month price of aluminum saw little movement on Monday at $1,897 per metric ton.

The Indian aluminum cash price saw a 0.8 percent decline yesterday.

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On July 27, 2012, the day’s biggest mover was the LME aluminum cash price, which saw a 1.4 percent increase to $1,865 per metric ton. On the LME, the 3-month price of aluminum increased 1.4 percent to $1,897 per metric ton.

The cash price of primary Indian aluminum changed direction with a 0.8 percent drop after two days of improving prices.

Chinese aluminum closed mixed last Friday.

Chinese aluminum billet prices rose 1.3 percent, and the cash price of Chinese aluminum finished the market day up 0.5 percent per metric ton.

Chinese aluminum scrap stayed flat at above $2,000 per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at $2,200 per metric ton.

Following a 2.2 percent decline, Chinese aluminum billet finished as the week’s biggest mover on the weekly Aluminum MMI®.

Chinese aluminum scrap prices were off slightly, down roughly $40 per metric ton from a week ago. Following a 0.2 percent increase in the week prior, the cash price of Chinese aluminum fell 1.3 percent last week. Following a steady week, prices for Chinese aluminum bar closed flat below $2,200 per metric ton.

The primary aluminum cash price fell 1.5 percent last week on the LME, settling at $1,839 per metric ton. The aluminum 3-month price closed last week at $1,871 per metric ton, after a 1.2 percent drop on the LME.

The cash price of primary Indian aluminum fell 1.3 percent after rising 3.4 percent the week before.

Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week, and the price of Korean 5052 coil premium over 1050 sheet also did not change since the previous week.

Closing below $3,500 per metric ton, European 5083 plate remained unchanged for the week. European 1050 aluminum traded sideways last week, above $2,700 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.

The Indian aluminum cash price saw the biggest upwards shift for the day, rising one percent on July 25, 2012.

Following a two-day drop, the 3-month price of aluminum increased by 0.6 percent on the LME to $1,871 per metric ton. The primary aluminum cash price rose 0.2 percent on the LME to $1,839 per metric ton after a two-day drop.

Chinese aluminum prices were mixed for the day.

Chinese aluminum billet fell one percent yesterday. The Chinese aluminum cash price fell 0.9 percent, while the Chinese aluminum scrap price was essentially unchanged. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining at $2,200 per metric ton.

Make sure to check out how to subscribe to the MetalMiner IndX℠ for complete, daily aluminum prices.

On July 24, 2012, the day’s biggest mover was the aluminum cash price, which saw a 3.1 percent decline on the LME to $1,835 per metric ton. The aluminum 3-month price saw a 2.7 percent decline on the LME to $1,860 per metric ton.

The Indian aluminum cash price, meanwhile, is back up, rising by 0.7 percent on Tuesday.

Chinese aluminum prices were mixed for the day. Chinese aluminum billet ended the day at above $2,400 per metric ton, after a one percent drop yesterday. The Chinese aluminum cash price declined 0.1 percent as well.

Chinese aluminum scrap stayed flat at about $2,050 per metric ton. Finally, the price of Chinese aluminum bar saw essentially no change for the fifth day in a row.

Dropping two percent, the Indian aluminum cash price was the biggest mover on July 23, 2012, on MetalMiner’s daily aluminum price index.

The 3-month price of aluminum weakened by 1.1 percent on the LME, settling at $1,913 per metric ton. On the LME, the primary aluminum cash price declined 0.8 percent to $1,894 per metric ton.

Chinese aluminum closed mixed yesterday.

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The aluminum cash price saw the biggest upwards shift for the day, rising 2.2 percent on the LME to close at $1,908 per metric ton on July 20, 2012. At $1,934, the aluminum 3-month price finished the market day on the LME up 2.1 percent per metric ton.

Indian aluminum cash price fell 1.2 percent.

Chinese aluminum closed mixed last Friday. The price of Chinese aluminum billet declined 0.3 percent. The Chinese aluminum cash price remained essentially flat in the mid-$2,000 per metric ton range.

The price of Chinese aluminum scrap held steady below $2,100 per metric ton. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining above $2,200 per metric ton.

Notable Daily Aluminum Price Movement

On July 19, 2012, the day’s biggest daily mover was the Indian aluminum cash price, which saw a 2.2 percent increase. On the LME, the aluminum 3-month price declined 1.1 percent to $1,895 per metric ton. The primary aluminum cash price weakened by 1.1 percent on the LME, settling at $1,868 per metric ton.

The Chinese aluminum cash price rose 0.2 percent, while the Chinese aluminum scrap, aluminum billet and aluminum bar prices kept steady.

Weekly Aluminum MMI®

The week’s biggest mover on the weekly Aluminum MMI® was Indian aluminum cash price, which saw a 3.4 percent increase. This comes on the heels of a three percent decline the week prior.

Since last week, the price of the 3-month price of LME aluminum fell to $1,895 per metric ton after moving 0.6 percent. The primary aluminum cash price closed last week at $1,868 per metric ton, after a 0.2 percent drop on the LME.

Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum rose 0.2 percent after falling 1.3 percent during the previous week. Following a steady week, prices for Chinese aluminum bar closed flat above $2,200 per metric ton, while Chinese aluminum billet remained unchanged for the week.

Korean 3003 coil premium over 1050 sheet traded sideways last week, and Korean 5052 coil premium over 1050 sheet did not move. Prices for European 5083 plate remained constant, closing the week in the mid-$3,000 per metric ton range. European 1050 aluminum prices held steady from the previous week above $2,700 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.

Rising 1.5 percent to close at $1,888 per metric ton, the cash price of primary aluminum experienced the biggest change on the LME for July 18, 2012. Also on the LME, the 3-month price of aluminum rose 1.3 percent to $1,917 per metric ton.

The cash price of primary Indian aluminum fell 0.7 percent.

Chinese aluminum closed mixed yesterday. Chinese aluminum billet prices fell 0.6 percent yesterday. The Chinese aluminum cash price weakened by 0.4 percent. The price of Chinese aluminum scrap held steady between $2,050 and $2,100 per metric ton. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row.

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