2024 concludes in Shanghai Metals Market eventfully! Find out which aluminium pricing went which way
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Update time : 2024-12-31 18:51:10
Shanghai Metals Market (SMM), on the last day of the year, has been super active in the stance of base metal—aluminium pricing. From raw material to primary ingot to secondary ingot, such fluctuations in pricing have been a rare incident in recent times. During the winters, a lot of smelters have cut down production owing to environmental concerns. Thus, SMM's aluminium segment pricing list has had uncertainty for the last few days.
Alumina closed at an average of RMB 5,689 per tonne on Tuesday market, with a loss of RMB 14 from the previous day's pricing. After the lump sum rise in pricing, SMM witnessed a 0.6 per cent receding in prices M-o-M for alumina (prices on November 29, 2024, RMB 5,725 per tonne). However, the rise and fall of alumina pricing, as listed on SMM, has been significant in two regions of China — Lianyungang and Bayuquan. When alumina prices in these two port regions started rising, it was in the 50s, 100s and 200s. Now, as alumina climbs down the pricing ladder in the Chinese trading market, the jumps are also not less than 50s. On December 31, cost input in these two regions was RMB 5,950 per tonne after losing 50 bucks to the numbers of the previous day's closing session. Alumina pricing in Guizhou and Guangxi remained stagnant. Alumina's price downfall was consistent in the regions of Shandong, Henan and Shanxi where the prices were listed as RMB 5,715 per tonne (-20), RMB 5,650 per tonne (-20) and RMB 5,695 per tonne (-15), respectively.
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