According to Shanghai Metal Market, the average A00 aluminium ingot price plunged on June 5, 2018, from RMB 14550 per tonne to RMB 14520 per tonne. The prices are expected to range within RMB 14500 per tonne to RMB 14540 per tonne, with spot discounts remaining same at RMB 70 per tonne to RMB 30 per tonne, as that of the previous day. On Monday, June 4, 2018, the average A00 aluminium ingot price had surged to RMB 14alumi550 per tonne on the back of fewer deliveries to warehouses, after a fall on the prior day, June 1, 2018, from RMB 14610 per tonne to RMB 14490 per tonne. To say the truth, aluminium ingot price, according to SMM, has been oscillating since the beginning of May and likely to continue.
Almost all the major Chinese markets witnessed dwindle in aluminium ingot prices today, on June 5, 2018. In the east, the price dropped from RMB 14540 per tonne to RMB 14530 per tonne. In south and north, the prices dipped from RMB 14635 per tonne to RMB 14625 per tonne and from RMB 14550 per tonne to RMB 14530 per tonne respectively.
The table below shows the aluminium ingot price movement in major Chinese markets
On the other hand, according to SMM update, alumina spot price showed restraint on June 5, and remained at RMB 2998 per tonne, like it has been since June 1, 2018, after a significant fall from RMB 3061 per tonne, as on May 30, to RMB 2998 per tonne. Prior to that, the alumina spot price hovered at RMB 3065 per tonne for long, from May 22 to May 28, followed by a slight fall to RMB 3061 on May 29 and continued for a day.
In fact, alumina spot price has been showcasing a stable price range since the beginning of May on SMM, with no major frequent price fluctuations. In June too, alumina spot price is displaying a steady sentiment until now.
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