Weekly update: The week saw a flat alumina price trend; A00 aluminium ingot price witnessed mixed performance

The alumina price in China continued to remain flat over the week. The price started the week with an increase of RMB 7 per tonne to stand at RMB 2220 per tonne. On Wednesday, June 3, the average spot price of alumina stood RMB 16 per tonne higher at RMB 2236 per tonne, after remaining restrained on Tuesday. The price did not show any movement in the last two days of the week.

Other raw materials like Bauxite (6.5≤Al/Si＜7.5)Guangxi, Alumina (Imported), Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 265 per tonne, RMB 2190 per tonne, USD 252 per tonne, RMB 2730 per tonne and RMB 8000 per tonne as of Friday, 5 June 2020.

A00 aluminium ingot price in China witnessed fluctuations over the week. The week started with a increase of RMB 20 per tonne from Friday to stand at RMB 13480 per tonne. The price continued to trend lower at RMB 13400 per tonne and RMB 13390 per tonne on Tuesday and Wednesday. The week ended lower at RMB 13480 per tonne on Friday, June 5, after rising by RMB 110 per tonne on Thursday.

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined slower this week, as updated by Shanghai Metals Market. Inventories stood at 847,000 tonnes in the week ended June 4, down 46,000 tonnes from previous week.