The Shanghai Metal Market has marked a rise of RMB 50 per tonne in the aluminium spot price, finally settling down at RMB 18,160 per tonne today, May 26. The average aluminium price trends are between RMB 18,040 per tonne and RMB 18,180 per tonne. The premium prices have ranged around RMB 100 or 140 per tonne.
The eight central provinces in China all have witnessed escalating prices today, with the aluminium index recording the biggest spike in Gongyi and Foshan by RMB 70 per tonne, closing at 18,020 per tonne and 18,150 per tonne, respectively. In Wuxi and Hangzhou, the aluminium spot price also came in at RMB 18,150 per tonne, with an increase of RMB 50 per tonne in each place. The aluminium price trend in Linyi was also bearish as it earned RMB 60 per tonne, resting at RMB 18,220 per tonne. In Shenyang, the aluminium price chart has shown onward growth, stopping at RMB 18,210 per tonne with an addition of RMB 50 per tonne. Both in Chongqing and Tianjin, the aluminium spot prices have been boosted by RMB 30 per tonne, officially closing at RMB 18,160 per tonne and RMB 18,210 per tonne.
According to SMM, the aluminium price has slumped 2.67 per cent M-o-M as it had recorded RMB 19,110 per tonne on April 20 and RMB 18,600 per tonne on May 18, with the highest numbers of the two months recorded in those two days.
The domestic price of low-carbon aluminium has levitated by RMB 70 per tonne, officially closing at RMB 18,743 per tonne.
The high-purity aluminium (99.99%) price and high-purity aluminium (99.996%) price have seen RMB 100 per tonne augmentation to stop at RMB 25,900 per tonne and RMB 26,900 per tonne, respectively.
The average alumina spot price in China has dropped by RMB 1 per tonne, closing at RMB 2,861 per tonne, while the alumina price in Shanxi lost RMB 5 per tonne, resting at RMB 2,855 per tonne.
The prices of aluminium alloy (A356) and aluminium alloy (A360) have gained RMB 50 per tonne, closing at RMB 18,950 per tonne and RMB 19,250 per tonne, respectively. The price of aluminium alloy (ADC12) has refrained from any change, being stuck at RMB 18,500 per tonne as it was yesterday.
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