
SMM aluminium ingot price started the week with an increase of RMB 270 per tonne and RMB 180 per tonne on Monday and Tuesday. The price stood at RMB 14550 per tonne and RMB 14730 per tonne on September 28 and September 29. Ingot price ended RMB 50 per tonne lower at RMB 14680 per tonne after Wednesday’s closing.
China market is closed for the National Day and Mid-Autumn Festival holidays from October 1 to October 8, 2020.
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According to the Shanghai Metals Market, primary aluminium inventories in China declined by 61,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to stand at 655,000 tonnes, as of Wednesday, September 30. This sharp fall could be attributed to the increase in purchases by the downstream sector before the week-long Chinese National Holiday.
The aluminium alloy (ADC12) price performed higher on Monday and Tuesday. The week started with an increase of RMB 50 per tonne to RMB 14850 per tonne on Monday, September 28. The price stood higher at RMB 14900 per tonne on Tuesday, 29 September, up RMB 50 per tonne. The price did not show any movement on Wednesday.
The alumina price in China continued to remain unchanged over the week. The price is currently hovering at RMB 2334 per tonne as of Wednesday, 30 September 2020.
Other raw materials like Alumina (Imported), Australian Alumina FOB Price, and Al Fluoride are hovering at RMB 2350 per tonne, USD 268 per tonne, and RMB 7850 per tonne as of Wednesday, September 30 2020.
Note to readers: AlCircle brings two-day event for aluminium industry players. We look forward to meeting you virtually at “Global Aluminium Expo 2020” on October 6-7, 2020. For registration, visit www.alcircleevents.com
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