SMM aluminium ingot price continued to trend lower this week. The price on Tuesday, 27 October, declined by RMB 10 per tonne to stand at RMB 14880 per tonne, after remaining flat on Monday. The price dropped by RMB 140 per tonne and RMB 30 per tonne on Wednesday and Thursday, ending the price at RMB 14740 per tonne and RMB 14710 per tonne on October 28 and October 29. Aluminium ingot price ended higher at RMB 14830 per tonne on Friday, 30 October 2020.
According to the Shanghai Metals Market, social inventories of primary aluminium have extended decline by 7,000 tonnes this week. The data shows the inventories have decreased across eight major consumption areas in China, including SHFE warrants, to come in at 688,000 tonnes on October 29.
The alumina price in China continued to remain flat over the week. The price did not show any movement this week, except Wednesday and Friday. The price ended the week lower at RMB 2280 per tonne as of Friday, 30 October 2020.
Other raw materials like Alumina (Imported), Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 2310 per tonne, USD 277 per tonne, RMB 3225 per tonne and RMB 7700 per tonne as of Friday, October 30 2020.
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