Weekly update: Aluminium ingot price in China performed lower this week; Alumina price remained unchanged

SMM aluminium ingot price increased by RMB 140 per tonne on Tuesday, June 15 to stand at RMB 18970 per tonne. The price then declined to stand at RMB 18840 per tonne and RMB 18650 per tonne on June 16 and June 17, a drop of RMB 130 per tonne and RMB 190 per tonne. Aluminium price further reduced by RMB 100 per tonne on Friday, 18 June 2021 to close the week at RMB 18550 per tonne. The price is expected to move within a range of RMB 18530-18570 per tonne.

China market was closed on Monday, 14 June 2021 for the Dragon Boat Festival holiday.

As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, dropped this week. The stocks declined by 29,000 tonnes from the week before to 890,000 tonnes as of Thursday, 17 June 2021.

Bauxite (6.5≤Al/Si＜7.5) price in Guizhou climbed by RMB 10 per tonne to come in at RMB 370 per tonne on Tuesday, June 15. Bauxite (4.5≤Al/Si＜5.5) price in Henan rose by RMB 20 per tonne to settle at RMB 360 per tonne, and bauxite (5.5≤Al/Si＜6.5) price in Guangxi gained RMB 10 per tonne to RMB 230 per tonne. Their average prices are expected to range between RMB 340-380 per tonne and RMB 220-240 per tonne, respectively.

Other raw materials like alumina, Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 2485 per tonne, USD 285 per tonne, RMB 4450 per tonne and RMB 7500 per tonne as of Friday, 18 June 2021.