China’s A00 aluminium price surges by RMB 220/t today amidst the ongoing M-o-M downtrend

Today's average prices are expected to range between RMB 19,210 and RMB 19,250 per tonne. The spot contracts are likely to be traded at a discount price of RMB 90 per tonne to RMB 30 per tonne, with an average discount of RMB 70 per tonne. This price increase contributes to a week-over-week gain of RMB 220 per tonne, rising from RMB 19,010 per tonne and closing the week on a positive note. However, on a month-over-month basis, the price is still on a downward trend, with a decline of RMB 560 per tonne from RMB 19,790 per tonne as of July 16

Additionally, China's domestic low-carbon aluminium price has shot up by RMB 209 per tonne, reaching an average price of RMB 20,096 per tonne. The prices for high-purity aluminium (99.99%) and high purity aluminium (99.996%) have also increased by RMB 200 per tonne, now standing at RMB 26,400 per tonne and RMB 27,400 per tonne, respectively. The high-purity aluminium prices range between RMB 26,000 per tonne to RMB 26,800 per tonne for 99.99% purity and RMB 27,000 per tonne to RMB 27,800 per tonne for 99.996% purity.