Weekly update: Alumina price in performed flat; A00 aluminium price continued its upward trend over the week

The alumina market in China was flat over the week. The week started with an increase of RMB 2 per tonne from Friday and stood at RMB 2211 per tonne on Monday, May 11. The average spot price of alumina stood RMB 5 per tonne lower at RMB 2206 per tonne on Thursday, after remaining flat at RMB 2211 per tonne on Tuesday and Wednesday.  The price did not show any movement on Friday. 

Other raw materials like Bauxite (4.5≤Al/Si＜5.5)Shanxi, Alumina (Imported), Australian Alumina FOB Price, and Prebaked Anode East are hovering at RMB 365 per tonne, RMB 2190 per tonne, USD 241 per tonne and RMB 2700 per tonne as of Friday, 15 May 2020.

A00 aluminium ingot price witnessed an upward movement over the week, except Wednesday. The price stood higher at RMB 13030 per tonne and RMB 13040 per tonne on Monday, May 11 and Tuesday, May 12. But the price registered a drop of RMB 270 per tonne to RMB 12770 per tonne on Wednesday. Ingot price ended the week higher at RMB 13020 per tonne, up RMB 230 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 to trend lower this week. Inventories stood at 1.058 million tonnes as of Thursday, 14 May 2020, down 114,000 tonnes from Wednesday May 6.