As per the Shanghai Metals Market (SMM) data, the prices in most regions have grown, except in Lianyungang and Bayuquan, which have remained unchanged at RMB 5,950 per tonne. In regions like Shandong, Shanxi, Guizhou and Guangxi, the prices have ascended by RMB 25 per tonne to settle at RMB 5,605 per tonne, 5,675 per tonne and RMB 5,575 per tonne ( for both Guizhou and Giangxi).
The Australian alumina FOB price has also marked a rise of US$37 per tonne to arrive at US$ 730 per tonne. On the same day, the high-purity aluminium (99.99%) and high-purity aluminium (99.996%) prices contracted by RMB 400 per tonne to reach RMB 27,500 per tonne and RMB 28,500 per tonne.
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Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
