China’s A00 aluminium ingot price contracts by RMB80/t M-o-M; Alumina price inches down by RMB1/t
On Tuesday, November 21, China’s A00 aluminium ingot price gained RMB 50 per tonne to score RMB 19,000 per tonne. However, on M-o-M calculation, the price has fallen by RMB 80 per tonne from RMB 19,080 per tonne recorded on October 20. Today, the average prices are expected to stand between RMB 18,980 per tonne and RMB 19,020 per tonne. The spot contract price may be traded at a discount of RMB 30 per tonne and RMB 10 per tonne.
The domestic aluminium ingot price in Linyi has surged by RMB 100 per tonne to reside at RMB 19,120 per tonne. On the same day, the prices in Gongyi, Wuxi and Tianjin ascended by RMB 50 per tonne to score at RMB 18,950 per tonne, RMB 19,000 per tonne and RMB 19,030 per tonne. In Foshan, the A00 aluminium ingot price has increased by RMB 60 per tonne to peg at RMB 19,150 per tonne, followed by a hike of RMB 40 per tonne in Hangzhou to clock at RMB 19,000 per tonne. As per the Shanghai Metals Market (SMM) data, the prices in Chongqing and Shenyang have grown by RMB 20 per tonne to clock at RMB 18,980 per tonne and RMB 18,970 per tonne.
