
After the downtrend since March 2019, the primary aluminium inventories recorded two consecutive rises this week, found Shanghai Metals Market. On Monday, December 30, the inventories grew by 2,000 tonnes over the weakened to stand at 594,000 tonnes, while on Thursday, January 2, it increased further by 18,000 tonnes over the entire week to come in at 610,000 tonnes. So, compared with Monday, the inventories witnessed a growth of 16,000 tonnes.
But despite the rise in inventories, the A00 aluminium ingot price did not shy away from recording a growth in the beginning of the week. On Monday, December 30, the price of A00 aluminium ingot climbed up by RMB 80 per tonne to RMB 14,510 per tonne, which again succeeded by further growth of RMB 30 per tonne and RMB 40 per tonne to stand at RMB 14,540 per tonne and RMB 14,580 per tonne on December 31 and January 2, respectively. However, on the last day of the week, that was on Friday, January 3, the price dipped by RMB 20 per tonne to RMB 14,560 per tonne.
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In tandem with the growth in A00 aluminium ingot price, the price of the aluminium alloy (A356) grew through ranging between RMB 15,200 per tonne and RMB 15,300 per tonne during December 30 to January 2. On Friday, January 3, the price remained restrained.

The prices of the aluminium alloys (ADC12) and aluminium alloy (A380), on the other hand, continued to be at RMB 15,000 per tonne and RMB 15,900 per tonne, respectively, throughout the week.
Shrink in aluminium billet inventories, although marginal, by 700 tonnes for the 12th straight week could also be attributed to the growth or steadiness of the price. As of Thursday, January 2, the billets inventories stood at 49,900 tonnes.
Among the input costs, only the prices of alumina and pre-baked anode recorded a change this week. On Tuesday, December 31, the price of the former grew by RMB 6 per tonne to stand at RMB 2,437 per tonne, while the price of the latter dropped by RMB 70 per tonne to RMB 2,780 per tonne. Both the prices on January 2 and January 3 remained restrained.
The domestic bauxite price and imported bauxite price remained at RMB 560 per tonne and US$43 per tonne throughout the week. The Australian alumina FOB price also recorded no change from US$ 278.50 per tonne.
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