SMM aluminium ingot price started the week with an increase of RMB 340 per tonne on Monday, 10 May 2021 to RMB 20030 per tonne. The price on Wednesday increased to stand at RMB 19980 per tonne from Tuesday’s price of RMB 19820 per tonne. The aluminium price closed the week lower at RMB 19660 per tonne on Friday, 14 May 2021, down RMB 160 per tonne. It is likely to trade between RMB 19640- 19680 per tonne.
{alcircleadd}As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, reduced by 54,000 tonnes from the week before to 1.06 million tonnes as of Thursday, 13 May 2021.
The alumina price in China performed higher this week. The average spot alumina price stood at RMB 2376 per tonne and RMB 2388 per tonne on May 10 and May 11, an increase of RMB 25 per tonne and RMB 12 per tonne. The price on Thursday climbed by RMB 10 per tonne to RMB 2398 per tonne, after remained flat on Wednesday. The alumina price did not change on Friday, 14 May 2021.
Other raw materials like Bauxite (6.0≤Al/Si<7.0)Shanxi, Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 540 per tonne, USD 276 per tonne, RMB 4220 per tonne and RMB 7600 per tonne as of Friday, 14 May 2021.
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