China’s aluminium ingot price declines by RMB110/t without affecting positive W-o-W movement
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Update time : 2024-07-09 17:10:59
As of July 5, China’s domestic A00 aluminium ingot price concluded the week at RMB 20,270 per tonne, with average prices hovering around RMB 20,250 to 20,290 per tonne, found the Shanghai Metals Market survey. Compared to the previous day, the price descended by RMB 110 per tonne but still stood 0.60 per cent higher week-on-week.
Throughout the week until July 4, the ingot price subsequently shot up by RMB 270 per tonne, starting at RMB 20,110 per tonne and reaching RMB 20,380 per tonne. At the end of the week, it decreased but did not affect the positive weekly trend. Today, the spot contract is likely to be traded at a discount price of RMB 70-30 per tonne, with an average of RMB 50 per tonne.
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