08 OCTOBER 2012MetalMiner
Aluminum Prices sport Rising Trend on Monthly Index
Edited by : AL CIRCLE
1 min read
The monthly Aluminum MMI registered a value of 99 in October, an increase of 5.3 percent from 94 in September.
MetalMiner’s aluminum price index moved up this month due to broad price improvement for primary aluminum (e.g. the LME), but also for European sheet and plate prices (the former due to European automotive demand) as well as price support from Korea and China.
Rising physical premiums, as previously reported by MetalMiner, suggest strong demand. Also, producers such as Alcoa and Rusal have been closing smelters, portending future cuts in supply. At $2,126 per metric ton, the aluminum 3-month price finished the month on the LME 12.4 percent higher. This was the second straight month of declines.
The price of European commercial 1050 aluminum sheet rose 6.3 percent over the past month after holding steady the previous month. The price of European 5083 plate increased 0.9 percent after staying flat in September.
The Chinese aluminum cash price rose 1.9 percent, and Chinese aluminum billet rose 1.7 percent over the past month.
The price of Korean 1050 aluminum sheet rose 1.6 percent over the past month.
MetalMiner’s aluminum price index moved up this month due to broad price improvement for primary aluminum (e.g. the LME), but also for European sheet and plate prices (the former due to European automotive demand) as well as price support from Korea and China.
Rising physical premiums, as previously reported by MetalMiner, suggest strong demand. Also, producers such as Alcoa and Rusal have been closing smelters, portending future cuts in supply. At $2,126 per metric ton, the aluminum 3-month price finished the month on the LME 12.4 percent higher. This was the second straight month of declines.
The price of European commercial 1050 aluminum sheet rose 6.3 percent over the past month after holding steady the previous month. The price of European 5083 plate increased 0.9 percent after staying flat in September.
The Chinese aluminum cash price rose 1.9 percent, and Chinese aluminum billet rose 1.7 percent over the past month.
The price of Korean 1050 aluminum sheet rose 1.6 percent over the past month.
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