Today, on January 22, the SMM A00 aluminium price has remained stagnant on its previous weekend’s position, recording a price of RMB 18,830 per tonne. If we consider China’s A00 aluminium ingot price on October 23, last year, there can be found a Quarter-on-Quarter descend of RMB 90 per tonne or 0.47 per cent from RMB 18,920 per tonne marked that day.
Similarly, if we take last year’s SMM aluminium price on December 22, there can be seen a Month-on-Month loss of RMB 290 per tonne or 1.52 per cent from RMB 19,120 per tonne logged that day. It is clear that China’s aluminium market was slowly regaining traction last December but the price is on the downhill since mid-January.
US employment data falls short of expectations, aluminium ingot continues destocking trend this week
