SMM aluminium ingot price started the week with an increase of RMB 90 per tonne and RMB 30 per tonne on Monday and Tuesday, ending the price at RMB 14940 per tonne and RMB 14970 per tonne on October 12 and October 13. The price registered a drop on Thursday and Friday. Aluminium ingot price ended RMB 10 per tonne lower at RMB 14950 per tonne on Friday, from Thursday’s closing of RMB 14960 per tonne.
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased slightly this week. Inventories stood 719,000 tonnes as of Thursday, October 15 2020, an increase of 4,000 tonnes from a week ago.
The alumina price in China continued to remain flat over the week. The price on Wednesday, October 14, decreased by RMB 14 per tonne to stand at RMB 2320 per tonne. The price did not show any movement on Thursday and Friday.
Other raw materials like Alumina (Imported), Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 2340 per tonne, USD 275 per tonne, RMB 3132.5 per tonne and RMB 7700 per tonne as of Friday, October 16 2020.
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