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

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.