
The average spot price of alumina continued to drop over the week. The week started with a decline of RMB 42 per tonne and stood at RMB 2079 per tonne on April 13. The alumina price stood RMB 6 per tonne and RMB 9 per tonne lower at RMB 2073 per tonne and RMB 2064 per tonne on April 14 and April 15. The price did not show any movement on Thursday and Friday.
Other raw materials like Bauxite (6.0≤Al/Si<7.0)Shanxi, Alumina (Imported), Australian Alumina FOB Price, and Prebaked Anode East are currently hovering at RMB 540 per tonne, RMB 2075 per tonne, USD 225 per tonne and RMB 2830 per tonne as of Friday, April 17.
The A00 aluminium ingot price witnessed an upward movement over the week. The price started the week with an increase of RMB 60 per tonne on Monday. The price continued to trend higher at RMB 11810 per tonne and RMB 11910 per tonne on Tuesday and Wednesday. The week ended higher at RMB 12150 per tonne on Friday, April 17, up RMB 150 per tonne from Thursday, April 16.
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined sharply this week on improved demand. Inventories stood at 1.495 million tonnes in the week ended April 16. That was down 112,000 tonnes from April 9.
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