The CIF index of import Bauxite price has shifted downwards by RMB 0.22 per tonne, halting at RMB 502.28 per tonne.
On October 18, the Shanghai Metals Market registered major upheavals in aluminium prices, with the SMM A00 aluminium ingot price skyrocketing by RMB 120 per tonne to officially close at RMB 19,020 per tonne. The average prices have circulated between RMB 19,000 per tonne and RMB 19,040 per tonne.
China’s low-carbon aluminium price has seen a stark increase of RMB 119 per tonne, finally settling down at RMB 19,875 per tonne.
The central provinces in China have all seen escalating prices today, with the aluminium price rising the highest in Chongqing by RMB 160 per tonne to rest at RMB 19,070 per tonne. In Linyi, the aluminium price has surged by RMB 140 per tonne to close at RMB 19,090 per tonne. The aluminium prices in Gongyi, Foshan, Wuxi, Shenyang and Tianjin have uniformly levitated by RMB 120 per tonne to regularise at RMB 18,930 per tonne, RMB 19,030 per tonne, RMB 19,040 per tonne, RMB 19,090 per tonne and RMB 19,070 per tonne. Lastly, in Hangzhou, the aluminium price has jumped up by RMB 110 per tonne to officiate at RMB 19,030 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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