
Following the growth of primary aluminium stocks by 39,000 tonnes to 1.303 million tonnes yesterday, the price of A00 aluminium ingot has registered a drop today, on January 25, to RMB 13,400 per tonne, Shanghai Metals Market found. This marks the primary aluminium price drop by RMB 70 per tonne after two back-to-back rises on January 23 and January 24. Today, the average prices are expected to range between RMB 13,380 per tonne and RMB 13,420 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne.

In the east (Wuxi and Hangzhou), the ingot prices have declined today by RMB 65 per tonne and RMB 60 per tonne to stand at RMB 13,400 per tonne and RMB 13,390 per tonne respectively. In the south and north, on the other hand, the prices have plunged by RMB 20 per tonne and RMB 60 per tonne to RMB 13,480 per tonne and RMB 13,390 per tonne.
Besides inventory growth, the price drop in alumina could also be attributed to the decline of aluminium ingot price. SMM found alumina spot price, as on today, has dropped by RMB 19 per tonne to stand at RMB 2817 per tonne, after being at RMB 2,836 per tonne from 22nd of January to 24th of January.

In the east and central, the alumina spot prices have recorded a decline by RMB 10 per tonne to clock at RMB 2,870 per tonne and RMB 2,850 per tonne respectively. In the north and south, on the other hand, the alumina prices have plunged by RMB 20 per tonne and RMB 50 per tonne to RMB 2,780 per tonne and RMB 2,810 per tonne, respectively.
The Australian alumina FOB price has also registered a drop today from US$380 per tonne to US$375 per tonne.
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