China’s SMM A00 aluminium ingot price soars by RMB150/t but down 0.42% Y-o-Y; High purity aluminium adds RMB200/t

Today, on February 7, the SMM A00 aluminium ingot price has jumped up the graph by RMB 150 per tonne to close at RMB 18,920 per tonne, with the average prices ranging between RMB 18,900 per tonne and RMB 18,940 per tonne. 

If we consider the SMM A00 aluminium ingot price on January 31, there can be seen a Week-on-Week slump of RMB50 per tonne or 0.26 per cent from RMB 18,970 per tonne recorded that day. 

Comparison on an annual basis – Reasons behind range-bound aluminium prices 

On a Year-on-Year scale, we can see a decrease of RMB 80 per tonne or 0.42 per cent from the price marked on February 7, last year, which was RMB 19,000 per tonne. Inventories are at a seven-year low in China, and with stability in domestic consumption, the market is still facing an import shortage due to international regulatory norms. 

China’s eight main provinces have all seen skyrocketing prices today, with a uniform rate of RMB 18,920 per tonne recorded in Wuxi, Hangzhou, Chongqing, Shenyang, Tianjin and Linyi, with the aluminium price heightening by RMB 100 per tonne in the last three and RMB 140 per tonne, RMB 150 per tonne and RMB 120 per tonne in the first three, respectively. In Foshan, the aluminium price soared by RMB 190 per tonne to close at RMB 18,970 per tonne, while in Gongyi, it levitated by RMB 140 per tonne to officiate at RMB 18,850 per tonne. 

China’s low-carbon aluminium price has spiked by RMB 190 per tonne to close at RMB 19,749 per tonne.

Other commodity trade in the Shanghai Metals Market 

The prices of high-purity aluminium (99.99%) and high-purity aluminium (99.996%) have both escalated by RMB 200 per tonne to close at RMB 26,400 per tonne and RMB 27,400 per tonne, respectively. 

The price of aluminium alloy (A356) and aluminium alloy (A360) grew by RMB 150 per tonne, to rest at RMB 19,550 per tonne and RMB 19,800 per tonne. 

China’s aluminium powder price has increased by RMB 0.20 per kg to close at RMB 21.30 per kg, with the average prices hovering between RMB 21.20 per kg and RMB 21.40 per kg.