After two consecutive days of hikes, China's domestic A00 aluminium ingot price has slipped by RMB 100 per tonne to reach RMB 20,320 per tonne on Friday, December 13. Thus, the price has edged a week-on-week decline of RMB 80 per tonne or 0.39 per cent from RMB 20,400 per tonne, primarily due to muted demand in the downstream market as many plants are going for maintenance or reducing operations for lower orders during the traditional off-season. According to the Shanghai Metals Market, today's average prices are expected to range between RMB 20,300 and 20,340 per tonne, with a spot contract to be traded at a discount price of RMB 20 and a premium price of RMB 20 per tonne.
Compared with the previous month's period, China's A00 aluminium ingot price is significantly down by RMB 520 per tonne or 2.5 per cent from RMB 20,840 per tonne.
The decline in A00 aluminium ingot price has touched upon all the major provinces today, such as Gongyi, Hangzhou, and Shenyang, witnessing RMB 110 per tonne to RMB 20,130 per tonne, RMB 20,310 per tonne, and RMB 20,350 per tonne, respectively. In Wuxi, the price has dwindled by RMB 100 per tonne to RMB 20,300 per tonne, followed by the downfall of RMB 90 per tonne in Linyi to RMB 20,220 per tonne and RMB 80 per tonne in Foshan and Chongqing to RMB 20,380 and RMB 20,320 per tonne, respectively.
