SMM A00 aluminium price discards RMB120/t today, up 5.59% Q-o-Q; High purity aluminium price sheds RMB100/t
On October 12, the Shanghai Metals Market experienced dampening aluminium prices all over China, with the SMM A00 aluminium ingot price plunging by RMB 120 per tonne to officially close at RMB 19,250 per tonne. The average prices have ranged between RMB 19,230 per tonne and RMB 19,270 per tonne.
If the SMM aluminium ingot price on July 12 is considered, we can register a Quarter-on-Quarter escalation of RMB 1,020 per tonne or 5.59 per cent from RMB 18,230 per tonne that day.
China is about to make an investment of RMB 1 trillion or US$137 billion to materialise sustainable projects such as water conservation, which is poised to uplift the country’s economy in the near future.
China’s eight central provinces have catalogued falling aluminium prices, with the only spike witnessed in Foshan, where the aluminium price stood at RMB 19,200 per tonne, with an addition of RMB 30 per tonne. The aluminium prices in Tianjin and Linyi have both descended by RMB 120 per tonne to officially close at RMB 19,270 per tonne and RMB 19,250 per tonne, respectively. In Gongyi, Wuxi and Hangzhou, one can see a uniform slump of RMB 110 per tonne, with the prices stopping at RMB 19,120 per tonne in the first location and RMB 19,230 per tonne in the last two areas. Lastly, in Chongqing and Shenyang, the aluminium prices have shed RMB 100 per tonne to halt at RMB 19,250 per tonne and RMB 19,200 per tonne.
The low-carbon aluminium price in China has increased by RMB 26 per tonne, halting at RMB 20,019 per tonne.
The high-purity aluminium price (99.99%) and the high-purity aluminium price (99.996%) have both negated RMB 100 per tonne to settle at RMB 26,900 per tonne and RMB 27,900 per tonne.
The price of aluminium alloy (A356) and the price of aluminium alloy (A360) have lost RMB 150 per tonne and RMB 100 per tonne, respectively, closing at RMB 19,900 per tonne and RMB 20,150 per tonne.
China’s domestic aluminium powder price has dropped RMB 0.10 per kg, stopping at RMB 21.40 per kg, with average prices hovering between RMB 21.30 per kg and RMB 21.50 per kg.
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