The alumina spot price in China has inflated by RMB 5 per tonne to close at RMB 3,345 per tonne, while the alumina spot price in Shandong has gained RMB 15 per tonne to close at RMB 3,245 per tonne. In Guizhou, the alumina price has levitated by RMB 20 per tonne to rest at RMB 3,335 per tonne.
The SMM A00 aluminium ingot price has escalated by RMB 230 per tonne to close at RMB 18,980 per tonne, with the average markers hovering between RMB 18,960 per tonne and RMB 19,000 per tonne.
If we consider the aluminium price on October 24, last year, there is a Quarter-on-Quarter rise of RMB 70 per tonne or 0.37 per cent from the recorded rate of RMB 18,910 per tonne. The elevation in price can be attributed to the heightened trading activities in East China, though the forecast says the round-about transactions are going to be average.
US employment data falls short of expectations, aluminium ingot continues destocking trend this week
