
Back on the continued decline in social inventories of primary aluminium, the price of A00 aluminium ingot has extended its rise today, September 24, by RMB 10 per tonne to stand at RMB 14,320 per tonne, found Shanghai Metals Market. This marks the third consecutive growth in the aluminium ingot price after a decline on September 19 from RMB 14,340 per tonne to RMB 14,270 per tonne. The average prices today are expected to range between RMB 14,300 per tonne and RMB 14,340 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne.

However, since the A00 aluminium ingot price rise has not touched upon all the major Chinese cities today, only Tianjin, Foshan, Wuxi, and Hangzhou have witnessed the growth. While Tianjin has seen the highest rise of RMB 30 per tonne to RMB 14,330 per tonne, Foshan, Wuxi, and Hangzhou have seen an increase by RMB 10 per tonne to RMB 14,360 per tonne, RMB 14,330 per tonne, and RMB 14,340 per tonne. The ingot price in Chongqing, Shenyang, Linyi, and Gongyi has registered no change and still hovering at RMB 14,340 per tonne, RMB 14,310 per tonne, RMB14,350 per tonne, and RMB 14,215 per tonne.
None of the raw materials has also recorded a price rise but remained restrained. The average alumina spot price continues to hover at RMB 2,592 per tonne, while the prebaked anode price at RMB 3,042 per tonne, bauxite price at RMB 560 per tonne, aluminium fluoride price at RMB 10,050 per tonne, and aluminium powder price at RMB 17.90 per kg.
The Australian alumina FOB price has shown no exception either and remained muted at US$293 per tonne, after the rise of US$1 per tonne on September 23, learned SMM.
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