The Shanghai Metal Market (SMM), today, on July 24, has recorded a growth of RMB 10 per tonne to settle at RMB 18,320 per tonne. On a Y-o-Y calculation, the price expanded by RMB 480 per tonne from RMB 17,840 per tonne recorded on July 25 2022. The average price as of today is expected to range between RMB 18,300 per tonne and RMB 18,340 per tonne, with the spot contract price expected to be traded at a premium price of RMB 10 to RMB 50 per tonne.
The A00 aluminium ingot prices have grown in all the provinces on short covering after prices fell as smelters resumed operations in the southern Yunnan region after local power consumption restrictions were removed. The highest has been recorded in Gongyi, where it has hiked by RMB 40 per tonne to close at RMB 18,320 per tonne. On the same day, the price in Foshan has gained RMB 20 per tonne, scoring at RMB 18,380 per tonne. As per the SMM data, the Wuxi, Hangzhou and Chongqing prices have increased by RMB 10 per tonne to reside at RMB 18,320 per tonne and RMB 18,350 per tonne. Shenyang and Linyi also experienced the same price to halt at RMB 18,230 per tonne and RMB 18,370 per tonne.
Only in Tianjin A00 aluminium ingot price has descended by RMB 40 per tonne to score at RMB 18,320 per tonne. The domestic price of low-carbon aluminium has increased by RMB 46 per tonne, stopping at RMB 19,040 per tonne.
The average alumina spot price has moved up by RMB 4 per tonne to score at RMB 2,849 per tonne. The price in Shanxi has gone up by RMB 10 per tonne to rest at RMB 2,855 per tonne, followed by an addition of RMB 5 per tonne in Guizhou and Guangxi to rest at RMB 2,840 per tonne and RMB 2,850 per tonne. The price of aluminium alloys (ADC12), (A356) and (A380) have shown no change to come in at RMB 18,600 per tonne, RMB 18,950 per tonne and RMB 19,600 per tonne.
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