SMM aluminium price registers M-o-M growth of RMB280/t; Alumina price grows by RMB3/t

The Shanghai Metal Market (SMM), today, on August 7, has marked a drop of RMB 40 per tonne to settle at RMB 18,490 per tonne. On M-o-M calculation, a hike of RMB 280 per tonne was witnessed from RMB 18,210 per tonne on July 7. As of today, the average prices are expected to stand between RMB 18,470 per tonne and RMB 18,510 per tonne, with the spot contract prices expected to be traded at a discount price of RMB 30 per tonne to a premium price of RMB 10 per tonne.

The eight major provinces in China have experienced downfall, with the aluminium ingot price in Tianjin and Foshan dwindling by RMB 80 per tonne and RMB 70 per tonne to close at RMB 18,470 per tonne and RMB 18,490 per tonne. On the same day, the prices in Wuxi and Hangzhou dipped by RMB 40 per tonne to settle at RMB 18,490 per tonne. As per the SMM data, the prices in Chongqing, Shenyang and Linyi have settled at RMB 18,480 per tonne, RMB 18,440 per tonne and RMB 18,540 per tonne after experiencing a similar price cut of RMB 40 per tonne. In Gongyi, the A00 aluminium ingot price has descended by RMB 30 per tonne, scoring at RMB 18,440 per tonne.

The domestic price of low-carbon aluminium has dwindled by RMB 52 per tonne to clock at RMB 19,176 per tonne. The average alumina spot price has gained RMB 3 per tonne to rest at RMB 2,896 per tonne. The prices in Henan and Shanxi have increased by RMB 5 per tonne to RMB 2,920 per tonne and RMB 2,915 per tonne.

The price of aluminium alloy (A356) has declined by RMB 50 per tonne to reside at RMB 19,100 per tonne, with average prices between RMB 18,900 per tonne and RMB 19,300 per tonne. The (ADC12) and (A380) prices have remained restrained at RMB 19,000 per tonne and RMB 20,000 per tonne.