SMM aluminium ingot price witnessed fluctuations over the week. The week started with an increase of RMB 300 per tonne to stand at RMB 19630 per tonne on Monday. The price settled lower at RMB 19450 per tonne and RMB 19370 per tonne on Tuesday July 27 and Wednesday July 28. But the week ended higher at RMB 19850 per tonne on Friday, July 30, up RMB 350 per tonne from Thursday. The price is expected to move within a range of RMB 19830-19870 per tonne.
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall for the fourth week in a row, ending on Thursday, July 29. Extending the downfall by 51,000 tonnes week-on-week across eight consumption areas, including SHFE warrants, the inventories have come in at 758,000 tonnes.
The alumina price in China performed higher on Wednesday and Thursday. The price stood at RMB 2553 per tonne on Thursday, 29 July 2021, an increase of RMB 10 per tonne from July 28’s price RMB 2543 per tonne. The price remained flat on Friday, July 30.
Other raw materials like Bauxite (4.5≤Al/Si＜5.5) price in Henan, Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 430 per tonne, USD 300 per tonne, RMB 4525 per tonne and RMB 7450 per tonne as of Friday, 30 July 2021.
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