On June 18, 2024, the Shanghai Metal Market (SMM) has reported that the price of A00 aluminium ingot stands at RMB 20,350 per tonne, marking a slight dip of RMB 30 per tonne or 0.15 per cent from the previous trading session. In USD terms, this price is approximately $2,797.56, excluding VAT. This minor fluctuation indicates a stable market with balanced supply and demand.
The average prices are expected to range between RMB 20,330 per tonne and 20,370 per tonne, with a spot contract being offered at a discount price of RMB 50-10 per tonne.
The price range of aluminium ingot across different regions has varied like in Gong Yi, Foshan, Wu Xi, and Chong Qing regions, the prices stand at RMB 20,280, 20,160, 20,350, and 20,260 per tonne, respectively, experiencing a downfall of RMB 50, 40, 20 and 40 per tonne. Also, in Tian Jin and Lin Yi, the price has decreased by RMB 25 and 30 per tonne to settle at RMB 20,450 per tonne and RMB 20,400 per tonne. Exceptionally, the cost of A00 aluminium ingot in the Shen Yang region has increased by RMB 10 per tonne to stand at RMB 20,370 per tonne.
On June 18, China’s domestic low-carbon aluminium price has dwindled by RMB 58 per tonne to close at RMB 21,145 per tonne.
Raw material prices
The market for bauxite and alumina has remained stable, with prices holding steady. There is no change in the bauxite and alumina price across all regions except for the alumina price in Guizhou, which has increased by RMB 15 per tonne to RMB 3,920 per tonne. The average prices are estimated to range between RMB 3,880-3,940 per tonne.
Aluminium alloy prices
Aluminium alloy prices have recorded no change, except for aluminium alloy (A360) price, which has dropped by RMB 50 per tonne to RMB 21,150 per tonne, marking a week-on-week downfall of 2.08 per cent from RMB 21,600 per tonne. The average prices are likely to range between RMB 21,050-21,250 per tonne.
Market analysis
Overall, the aluminium market on June 18, 2024, has displayed minor price adjustments across ingots, bauxite alumina and alloys, reflecting a stable trading environment.
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