Weekly update: Aluminium ingot price in China saw mixed performance; Alumina price ended higher this week

SMM aluminium ingot price performed lower, except Thursday and Friday. The week started with a decrease of RMB 30 per tonne to stand at RMB 19820 per tonne on Monday, 02 August. The price settled lower at RMB 19790 per tonne and RMB 19730 per tonne on Tuesday and Wednesday. But the week ended higher at RMB 19910 per tonne on Friday, 06 August, up RMB 170 per tonne from Thursday. The price is expected to move within a range of RMB 19890-19930 per tonne.

According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall on Thursday, August 5, albeit slower than the previous week. SMM found the inventories fell 26,000 tonnes week-on-week across China’s eight major consumption areas, including SHFE warrants, to come in at 732,000 tonnes.

The alumina price in China opened the week higher at RMB 2571 per tonne on Monday, 02 August 2021, an increase of RMB 18 per tonne. The price on Wednesday increased after remaining flat on Tuesday, standing at RMB 2584 per tonne. The week closed higher at RMB 2592 per tonne on Friday, 06 August 2021.

Other raw materials like Bauxite (4.5≤Al/Si＜5.5) price in Henan, Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 430 per tonne, USD 300 per tonne, RMB 4565 per tonne and RMB 7700 per tonne as of Friday, 06 August 2021.