On a week-on-week calculation, the ingot price has edged a fall of RMB 390 per tonne from RMB 19,170 per tonne, while that on a monthly basis has nosedived by RMB 1,450 per tonne from RMB 20,230 per tonne.
China’s domestic low carbon aluminium price has decreased by RMB 71 per tonne to close at RMB 19,694 per tonne. The price of high-purity aluminium (99.99%) has also contracted by RMB 100 per tonne to close at RMB 26,000 per tonne, with average prices to range between RMB 25,600-26,400 per tonne.
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Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
