SMM A00 aluminium ingot price surges by 7.12% in one year; Low-carbon aluminium price loses RMB45/t

On December 21, the SMM aluminium price chart showed a linear growth, with the SMM aluminium price discarding RMB 20 per tonne to arrive at a rate of RMB 18,960 per tonne. The average prices have ranged between RMB 18,940 per tonne and RMB 18,980 per tonne.

Comparison of price points 

If we take the whole year into consideration, the lowest SMM price was recorded on January 6 at RMB 17,700 per tonne, from which it has grown by RMB 1,260 per tonne or 7.12 per cent. On the other hand, the highest rate was marked on September 28 at RMB 19,850 per tonne, from which it had slumped by RMB 890 per tonne or 4.48 per cent. This indicates that aluminium prices are slowly stabilising at the end of the year, and it can be seen that the aluminium market in China is not facing a fate similar to that of its European or American counterparts, as there are minor price fluctuations. Western countries are under the pangs of high inflation, which is the fundamental reason for an economic slowdown.

China's eight major provinces have all recorded slight decrease in aluminium prices today, with the biggest plunge of RMB 50 per tonne experienced by Gongyi and Foshan, where the aluminium prices stood at RMB 18,970 per tonne and RMB 19,010 per tonne. Other than that, in places like Wuxi, Hangzhou, Chongqing and Linyi, aluminium prices have witnessed a uniform decline.

Wuxi: RMB 18,940 per tonne

Hangzhou: RMB 18,960 per tonne 

Chongqing: RMB 19,010 per tonne

Linyi: RMB 19,010 per tonne 

Lastly, regions like Shenyang and Tianjin have not seen any difference in prices, remaining stagnant at RMB 18,940 per tonne and RMB 18,980 per tonne, respectively.

China's low-carbon aluminium price has declined by RMB 45 per tonne to settle at RMB 19,766 per tonne. The price of aluminium alloy (A360) has shed RMB 50 per tonne to officially close at RMB 19,900 per tonne. 

Aluminium output and imports 

China's unwrought aluminium imports rose by 28.3 per cent in January-November, reaching 2.74 million tonnes. However, November saw a lower import compared to October's near-two-year high due to production cuts in Yunnan province, China's fourth-largest producing region. Yunnan's authorities mandated output reductions during the dry season, resulting in a total Y-o-Y growth of 3.6 per cent, reaching 37.946 million tonnes from January to November. Despite China's aluminium output increasing by 4.6 per cent Y-o-Y in November, the United States and Europe faced subdued orders due to high inflation and sluggish construction.