The Shanghai Metals Market, on November 20, experienced an overall surge in aluminium prices, with the SMM A00 aluminium ingot price skyrocketing by RMB 140 per tonne to close at RMB 18,950 per tonne. The average aluminium prices have circulated between RMB 18,930 per tonne and RMB 18,970 per tonne.
Last week, on November 13, the SMM A00 aluminium ingot price was RMB 18,850 per tonne. Therefore, a Week-on-Week upheaval of RMB 100 per tonne or 0.53 per cent can be noticed.
China’s eight major provinces have witnessed augmenting aluminium prices today, with the highest hike marked in Gongyi and Linyi, where the aluminium prices have increased by RMB 160 per tonne to halt at RMB 18,900 per tonne and RMB 19,020 per tonne. Wuxi has seen a RMB 140 per tonne rise, with the aluminium price settling at RMB 18,950 per tonne, followed by a RMB 130 per tonne spike in Foshan, where the aluminium price stood at RMB 19,090 per tonne. The aluminium prices in Hangzhou and Chongqing have escalated by RMB 120 per tonne to rest at RMB 18,960 per tonne each. Tianjin has recorded a RMB 110 per tonne surge, with the aluminium price closing at RMB 18,980 per tonne, while the aluminium price in Shenyang has soared by RMB 100 per tonne to officiate at RMB 18,950 per tonne.
The low-carbon aluminium price in China has levitated by RMB 140 per tonne, settling down at RMB 19,844 per tonne.
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