SMM A00 aluminium ingot price subsides by 2.76% W-o-W; China’s alumina spot price drops RMB5/t

The Shanghai Metals Market, on October 16, witnessed minor hikes in aluminium prices, with the SMM A00 aluminium ingot price showing no change, remaining stoic at RMB 19,050 per tonne. The average prices have ranged between RMB 19,030 per tonne and RMB 19,070 per tonne.

If we consider the price on October 9, we can scale a Week-on-Week decrease of RMB 540 per tonne or 2.76 per cent, which indicates a sluggish growth in China’s aluminium spot prices.

China’s eight central provinces have more or less recorded escalating prices today, with the aluminium price increasing the highest in Foshan by RMB 20 per tonne, resting at RMB 19,050 per tonne. Wuxi has also registered a similar price for its A00 aluminium ingots, with a certain influx of RMB 10 per tonne. In Hangzhou, too, the aluminium price has soared by RMB 10 per tonne to officiate at RMB 19,060 per tonne. Other than that, no region has experienced price alterations, with the aluminium price in Gongyi staying at RMB 18,950 per tonne, Chongqing marked a price of RMB 19,090 per tonne, and Linyi recorded RMB 19,120 per tonne. Only in Shenyang and Tianjin, the aluminium prices have clocked at RMB 19,100 per tonne each.

The low-carbon aluminium price in China has gained RMB 14 per tonne to rest at RMB 19,884 per tonne.

Bauxite price in Shanxi has heightened by RMB 10 per tonne to close at RMB 500 per tonne.

The average alumina spot price in China has floated up by RMB 5 per tonne to close at RMB 2,979 per tonne. The alumina prices in Shandong, Henan, Shanxi and Guangxi have all increased by RMB 5 per tonne to officially settle at RMB 2,940 per tonne, RMB 2,980 per tonne, RMB 2,990 per tonne and RMB 2,995 per tonne.