As per the SMM data, the prices in Foshan and Gongyi have contracted by RMB 430 per tonne and RMB 420 per tonne to halt at RMB 20,220 per tonne and RMB 20,210 per tonne. On the same day, the prices in Wuxi and Hangzhou have nosedived by RMB 400 per tonne to arrive at RMB 20,270 per tonne, followed by a downfall of the same amount in Hangzhou to settle at RMB 20,240 per tonne.
In Linyi and Tianjin, the domestic aluminium ingot prices have decreased by RMB 410 per tonne and RMB 400 per tonne, settling at RMB 20,330 per tonne and RMB 20,270 per tonne. In Shenyang, the price dropped by RMB 370 per tonne to RMB 20,240 per tonne.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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