Industry News

SMM aluminium ingot price marks a W-o-W fall of RMB390/t with a decline of RMB90/t on Aug 8

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Update time : 2024-08-09 15:33:49
According to Shanghai Metals Market (SMM) survey, as of August 8, the SMM A00 aluminium ingot price has descended by RMB 90 per tonne to officially close at RMB 18,780 per tonne, with the average prices ranging between RMB 18,760 per tonne and RMB 18,800 per tonne. 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.

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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