A00 aluminium ingot price started the week higher at RMB 14060 per tonne on Monday, November 25, up RMB 10 per tonne or 0.07 per cent from Friday. But the price witnessed a downward movement in the next two days. The aluminium price stood at RMB 13990 per tonne and RMB 13950 per tonne on November 26 and November 27. The price ended the week higher at RMB 13990 per tonne, up RMB 30 per tonne from its previous price.
Source: Shanghai Metals Market
As updated by Shanghai Metals Market, the social inventory of primary aluminium continued to decline in the week to Thursday November 28. Primary aluminium stocks across eight consumption areas in China, including SHFE warrants, dropped by 44,000 tonnes from a week ago to 755,000 tonnes as of Thursday, after a decline of 35,000 tonnes in the previous week. The chart below indicates the current status of primary aluminium inventories across China in more detail.
As far as raw material is concerned, the average spot price of alumina opened the week lower at 2484 per tonne on Monday, down RMB 5 per tonne. Alumina price did not show any movement on Tuesday and Wednesday. The price is currently hovering at RMB 2483 per tonne.
Source: Shanghai Metals Market
Other raw materials like Bauxite (6.0≤Al/Si＜7.0)Shanxi, Alumina (Imported) and Prebaked Anode East remained unchanged at RMB 560 per tonne, RMB 2550 per tonne and RMB 2980 per tonne over the week.
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