SMM reports gradual decline in aluminium prices across China amid broader market stagnation

As the week progresses, the price listing of aluminium dips lower on the graph in the Shanghai Metals Market (SMM). According to their Wednesday (December 18) listing, apart from alumina, majority of the commodities have either remained stagnant or lost value from their previous pricing.

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Primary aluminium ingot pricing

As per the SMM listing on December 18, 2024, the average price of A00 primary aluminium ingot has further climbed down RMB 110 per tonne and was reflected as RMB 19,790 per tonne. The average cost of A00 aluminium ingot has decreased by 3.5 per cent M-o-M (price on November 18 was pegged at RMB 20,510 per tonne). However, when compared year-on-year, the primary metal ingot's average price has risen 4.2 per cent as the average price on November 15, 2023, was listed as RMB 18,980 per tonne in the Chinese market.  

The average A00 aluminium ingot pricing has sunk in all eight listed provinces, with average prices of A00 aluminium ingot listed as RMB 19,690 per tonne (-80) in Gongyi, RMB 19,990 per tonne (-70) in Foshan, RMB 19,780 per tonne (-90) in Wuxi, RMB 19,750 per tonne (-100) in Hangzhou, RMB 19,850 per tonne (-100) in Chongqing, RMB 19,890 per tonne (-90) in Shenyang, RMB 19,910 per tonne (-90) in Tianjin and RMB 19,810 per tonne (-80) in Linyi. The prices have declined at a slower rate than Tuesday's pricing, wherein the descent was, on average, close to 200 bucks. The price range in the provinces has varied between RMB 19,670 per tonne to RMB 19,970 per tonne.

Aluminium alloy ingot pricing

The secondary aluminium alloy ingot prices have also mostly slumped on the SMM pricing chart. Alloy variant A356 has witnessed a loss of RMB 100 per tonne in today's market while being listed at an average price of RMB 20,250 per tonne. Variant A360 has similarly descended a further 100 bucks and settled at RMB 20,400 per tonne. On the other hand, the aluminium alloy A380 has been priced at RMB 21,700 per tonne on average after renouncing 100 bucks to the previous pricing, whereas variant ADC12's pricing remains static.

Alumina pricing

Neither the average price of alumina nor the provincial listed prices have seen any changes on December 18 after the slight change on the previous day. Alumina's average pricing has also seen a slight drop of RMB 4 and was listed as RMB 5,765 per tonne on the Tuesday market.

Other pricing

Two high-purity aluminium ingot variants mentioned on the SMM listing — 99.99 per cent and 99.96 per cent also slid downwards on Wednesday, and both have lost RMB 100 per tonne, resting at an average of RMB 26,900 and RMB 27,900 per tonne. On the same date, low-carbon aluminium was priced at RMB 20,964 per tonne, with a degeneration of RMB 77 per tonne.