
A00 aluminium ingot price started its upward trend at the beginning of the week and continued rising throughout the week. On Monday, July 15, the price increased RMB 80 per tonne or 0.58 per cent to RMB13800 per tonne. Aluminium ingot price on Thursday recorded no movement from RMB 13850 per tonne. It ended the week higher at RMB13920 per tonne, up RMB 70 per tonne.

Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, extended their increase over the weekend, gaining 1,000 tonnes from Thursday July 11 to stand at 1.043 million tonnes as of Monday July 15. On Thursday, July 18, primary aluminium stocks barely changed from a week ago and came in at 1.042 million tonnes.

The average price of alumina across five major consumption areas in China dropped to RMB 2582 per tonne as of July 15, with a low under the RMB 2500 per tonne level in northern markets. On Tuesday, July 16, alumina price again dipped RMB 35 per tonne to RMB 2547 per tonne. The price remained unchanged in the last three days of the week.

Australian alumina FOB price continued their downward trend. After remaining restrained on Monday, July 15, Australian alumina FOB price decreased by USD 10 per tonne to USD 300 per tonne on Tuesday, 16 July 2019.
Shanghai Metals Market expects further downside room in prices of alumina on production resumptions.
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