China’s SMM aluminium price soars RMB30/t today, down 0.48% Q-o-Q; Low carbon aluminium price gains RMB74/t

The Shanghai Metal Market’s aluminium spot price has gained RMB 30 per tonne loss, officially stopping at RMB 18,500 per tonne today, June 27. The average aluminium price trends are between RMB 18,480 per tonne and RMB 18,520 per tonne.

On June 20, one week ago, the SMM aluminium spot price was RMB 18,850 per tonne, which plummeted by RMB 350 per tonne or 1.86 per cent to halt at what it is today. On a Quarter-on-Quarter basis, the SMM aluminium spot price has lost RMB 90 per tonne or 0.48 per cent from March 29 when it stood at RMB 18,590 per tonne.

The eight major provinces in China have all witnessed accelerating prices today, with the aluminium spot price rising the highest in Foshan by RMB 70 per tonne to settle at RMB 18,590 per tonne, followed by RMB 60 per tonne hike in Tianjin to RMB 18,550 per tonne. In Wuxi, Hangzhou and Chongqing, the aluminium prices have witnessed RMB 30 per tonne uniform surge, resting at RMB 18,500 per tonne in the first two provinces and RMB 18,520 per tonne in the last. The aluminium spot price in Shenyang has increased by RMB 20 per tonne, officially closing at RMB 18,500 per tonne. Lastly, in Gongyi, the aluminium price has seen RMB 10 per tonne spike, stopping at RMB 18,300 per tonne.

The domestic price of low-carbon aluminium has grown by RMB 74 per tonne, settling down at RMB 19,187 per tonne.

The price of aluminium alloy (A356) has gathered RMB 50 per tonne, closing at RMB 19,200 per tonne, while the price of aluminium alloy (A360) has witnessed a similar rise stopping at RMB 19,550 per tonne.

The aluminium powder price in China has refrained from any change.