
SMM aluminium ingot price witnessed fluctuations over the week. The price on Monday and Tuesday stood higher at RMB 15050 per tonne and RMB 15150 per tonne. The price dropped by RMB 10 per tonne to RMB 15080 per tonne on Thursday, after declining by RMB 60 per tonne on Wednesday. Aluminium ingot price ended the week higher at RMB 15090 per tonne on Friday, 6 November 2020.

According to the Shanghai Metals Market, social inventories of primary aluminium ingots declined sharply this week due to robust downstream demand and limited arrivals of stocks. The inventories decreased by 34,000 tonnes across eight major consumption areas, including SHFE warrants, to stand at 654,000 tonnes on Thursday, November 5. This marks the third consecutive week of decline.
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, 6 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 271 per tonne, RMB 3305 per tonne and RMB 7800 per tonne as of Friday, 6 November 2020.
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