Monday Market Update: Aluminium prices rise across the board on SMM, defying previous week’s declining trend

On Monday, December 23, aluminium (both primary and secondary) keeps climbing the pricing ladder at the Shanghai Metals Market (SMM). However, as per the SMM listing, alumina prices (both average and provincial pricing) remained stable, showing no changes from the previous week's closing session.

Primary aluminium ingot prices

This week began with A00 aluminium ingot increasing by a solid 40 bucks compared to the previous session and finally resting at RMB 19,870 per tonne on average. Despite this current upward trend, it is essential to note that the price has experienced a decline of 1.5 per cent value in just a week's span. The price on December 16 (one week ago) was averaged at RMB 20,160 per tonne. The spot contract on the same date was traded at a discount of RMB 70 per tonne to a discount of upto RMB 110 per tonne.

The average price of A00 aluminium ingot has surged across all eight listed provinces. Specifically, prices in the SMM's listed regions are as follows: average RMB 19,810 per tonne (+40) in Gongyi with a range of RMB 19,790-19,830 per tonne, average RMB 20,050 per tonne (+40) in Foshan with a range of RMB 20,030-20,070 per tonne, average RMB 19,890 per tonne (+40) in Wuxi with a range of RMB 19,880-19,900 per tonne, average RMB 19,910 per tonne (+30) in Hangzhou with a range of RMB 19,900-19,920 per tonne, average RMB 19,930 per tonne (+30) in Chongqing with a range of RMB 19,920-19,940 per tonne, and average RMB 19,910 and RMB 19,920 per tonne in Shenyang and Tianjin, with increases of RMB 30 and RMB 40, respectively. The price in Linyi stands at RMB 19,960 per tonne (+70) with a range of RMB 19,950-19,970 per tonne. Price variations among provinces run from RMB 19,790 per tonne to RMB 20,070 per tonne.

Secondary aluminium ingot prices

The secondary aluminium ingot variants, apart from variant A360, also saw a price hike as reflected on SMM. Variant ADC12 was listed as RMB 20,800 per tonne (averaged) with a further gain of a 100 bucks and variant A380 also gained a further 100 RMB reaching at an average price of RMB 21,800 per tonne on Monday market. Whereas, variant A356 nestled at an average of RMB 20,350 per tonne with a modest inflation of RMB 50 per tonne in a single day's span.

Other pricing

High-purity aluminium variants 99.99 per cent and 99.96 per cent also glided upwards on Monday, and both have attained 100 bucks, standing at an average of RMB 27,000 and RMB 28,000 per tonne. On the same date, low-carbon aluminium was priced at RMB 21,073 per tonne, with a gain of RMB 45 per tonne.