Weekly update: Alumina price ended the week higher; A00 aluminium price performed higher over the week

The alumina market in China was flat over the week. The price did not show any movement in the first three days of the week. On Thursday, May 28, the average spot price of alumina stood RMB 2 per tonne lower at RMB 2204 per tonne. But the week ended higher at RMB 2213 per tonne, up RMB 9 per tonne.

Other raw materials like Bauxite (6.5≤Al/Si＜7.5)Guangxi, Alumina (Imported), Australian Alumina FOB Price, Prebaked Anode East, and Al Fluoride are hovering at RMB 265 per tonne, RMB 2190 per tonne, USD 246 per tonne, RMB 2700 per tonne and RMB 8000 per tonne as of Friday, 29 May 2020.

A00 aluminium ingot price witnessed an upward movement over the week, except Wednesday. The price stood higher at RMB 13260 per tonne and RMB 13360 per tonne on Monday and Tuesday. But the price declined by RMB 10 per tonne to RMB 13350 per tonne on Wednesday. The price ended the week higher at RMB 13460 per tonne, up RMB 10 per tonne from Thursday.

As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued their steep fall this week. Inventories stood at 893,000 tonnes as of Thursday, 28 May 2020, down 86,000 tonnes from May 21.