China’s A00 aluminium ingot price stands below RMB19000/t in over four months
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Update time : 2024-07-31 17:53:01
According to the Shanghai Metal Market (SMM) survey, China’s A00 aluminium ingot price has witnessed a sharp fall of RMB 260 per tonne from the previous trading day to stand at RMB 18,900 per tonne. After more than four months, the price has pegged below the RMB 19,000 per tonne level. The average prices are expected to range between RMB 18,880 per tonne and RMB 18,920 per tonne, with spot contract to be traded at a discount price of RMB 70-30 per tonne.
With the latest fall, China’s domestic A00 aluminium ingot price has recorded a decline of RMB 390 per tonne W-o-W from RMB 19,290 per tonne and edged a nosedive of RMB 1,210 per tonne compared to the price on July 1. The ongoing surplus market due to subdued demand and increased production has led to this tragic price fall.
