Weekly update: Aluminium ingot price in China performed lower this week; Aluminium inventories closed the year 2020 at 613,000 tonnes
SMM aluminium ingot price trended lower this week. The price on Monday, 28 December declined by RMB 120 per tonne to stand at RMB 16190 per tonne. The price further dropped on Tuesday and Wednesday, ending the price at RMB 15870 per tonne and RMB 15770 per tonne. Aluminium ingot price ended lower at RMB 15710 per tonne on Thursday, 31 December. The market was closed on Friday due to New Year’s Eve.
According to Shanghai Metals Market, social inventories of primary aluminium built up 27,000 tonnes on Thursday, December 31. The inventories thus, closed the year 2020 at 613,000 tonnes across eight major consumption areas, including SHFE warrants.
The alumina price in China registered a growth on Monday and Tuesday, closing the price at RMB 2329 per tonne and RMB 2338 per tonne. The alumina price did not show movement in the last two days of the week.
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Other raw materials like Alumina (Imported), Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 2400 per tonne, USD 304 per tonne, RMB 3575 per tonne and RMB 8800 per tonne as of Thursday, 31 December 2020 2020.
Aluminium Alloy (ADC12) price also performed lower this week. The price is currently hovering at RMB 17200 per tonne. The price is expected to move within a range of RMB 17100-17300 per tonne.
NALCO begins the year 2021 with a significant aluminium ingot price cut by INR4900/t with effect from January 1
Next articleLME aluminium price lost US$22/t in the last week of 2020; SHFE price decreased by US$47/t
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