SMM aluminium ingot price performed higher over the week, except Tuesday. The price on Monday, 16 November stood at RMB 15670 per tonne, up RMB 40 per tonne from Friday. The price dropped by RMB 80 per tonne to RMB 15590 per tonne on Tuesday. Aluminium ingot price ended the week higher at RMB 15930 per tonne on Friday, 20 November 2020, from RMB 15920 per tonne on Thursday.
According to Shanghai Metals Market, primary aluminium ingot inventories continued to decline this week. Social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, decreased 14,000 tonnes to 615,000 tonnes as of November 19.
The alumina price in China continued to remain flat over the week. The price is currently hovering at RMB 2280 per tonne as of Friday, 20 November 2020.
Other raw materials like Alumina (Imported), Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 2310 per tonne, USD 280 per tonne, RMB 3305 per tonne and RMB 8250 per tonne as of Friday, 20 November 2020.
Aluminium Alloy (ADC12) price stood at RMB 15500 per tonne on Wednesday, 18 November, after restraining for two days in a row. The price is currently hovering at RMB 15650 per tonne. The price is expected to move within a range of RMB 15550-15750 per tonne.
Responses
