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07 DECEMBER 2019 AL CIRCLE

Weekly update: A00 aluminium ingot price resumes their upward movement this week; alumina ends the week lower

EDITED BY : HEENA IQBAL 2MINS READ

The price of A00 aluminium ingot witnessed an upward movement, except Friday, over the week. Ingot price started the week with an increase of RMB 60 per tonne from November 29 to RMB 14050 per tonne on Monday, December 2. The aluminium price ended lower at RMB 14070 per tonne after Friday’s closing, down RMB 60 per tonne from Thursday’s price of RMB 14130 per tonne.

aluminium

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Source: Shanghai Metals Market

As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to decline this week due to robust demand and stood at 705,000 tonnes as of Thursday December 5, down by 50,000 tonnes from a week ago.

Primary aluminium inventories dropped 44,000 tonnes in the previous week. The chart below indicates the current status of primary aluminium inventories across China in more detail.

aluminium

As far as raw material is concerned, the average spot price of alumina extended their decline this week. After remaining flat on Monday, the price fell by RMB 3 per tonne and RMB 2 per tonne to RMB 2480 per tonne and RMB 2478 per tonne on December 3 and December 4. The alumina price ends the week lower at RMB 2467 per tonne.

aluminium

After remaining restrained for the past one week at RMB 2550 per tonne, alumina (Imported) price dropped by RMB 10 per tonne to stand at RMB 2540 per tonne on Tuesday, December 3. The price ended the week RMB 20 per tonne lower at RMB 2520 per tonne.

Other raw materials like Bauxite (6.0≤Al/Si<7.0)Shanxi, Australian Alumina FOB Price and Prebaked Anode East are currently hovering at RMB 560 per tonne, USD 273 per tonne and RMB 2850 per tonne as of Friday, December 6.


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EDITED BY : HEENA IQBAL 2MINS READ

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