Weekly update: Aluminium price in China witnessed upward movement; Aluminium alloy (ADC12) performed higher over the week

SMM aluminium ingot price witnessed an upward movement over the week, except Monday and Thursday. The price stood lower at RMB 14580 per tonne on Monday, September 14. But the price increased by RMB 30 per tonne and RMB 70 per tonne to stand at RMB 14610 per tonne and RMB 14680 per tonne on Tuesday and Wednesday. The price ended the week higher at RMB 14780 per tonne, up RMB 190 per tonne from Thursday.

According to the Shanghai Metals Market, social inventories of primary aluminium ingots in China have shrunk by 24,000 tonnes this week ending on Thursday, September 17. The inventories across eight major consumption areas in China, including SHFE warrants, to stand at 740,000 tonnes, as of September 17.

The aluminium alloy (ADC12) price performed higher over the week. The week started with an increase of RMB 100 per tonne to RMB 14300 per tonne on Monday, September 14. The price ended the week higher at RMB 14800 per tonne on Friday, 18 September, up RMB 150 per tonne from Thursday. The price is expected to range at RMB 14700 per tonne-14900 per tonne. 

The alumina price in China continued to remain unchanged over the week. The price remained unchanged at RMB 2333 per tonne as of Friday, 18 September 2020.

Other raw materials like Alumina (Imported), Australian Alumina FOB Price, and Al Fluoride are hovering at RMB 2350 per tonne, USD 273 per tonne, and RMB 7850 per tonne as of Friday, September 18 2020.

Note to readers: AlCircle brings two-day event for aluminium industry players. We look forward to meeting you virtually at “Global Aluminium Expo 2020”on October 6-7, 2020. For registration, visit www.alcircleevents.com