SMM aluminium ingot price shrinks further by RMB140/t as estimated domestic production grows
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Update time : 2024-01-09 16:34:20
On Monday, January 8, China's A00 aluminium ingot price has lost RMB 140 per tonne to settle at RMB 19,160 per tonne, with the spot contract price expected to be traded at a discount price of RMB 20 to a premium price of RMB 20 per tonne. The average prices are expected to be traded between RMB 19,140 per tonne and RMB 19,180 per tonne.
As per the information, the drop was influenced by China's aluminium production in December 2023, which is anticipated to be around 3.6 million tonnes. This reflects a notable 2.1 per cent upswing from the preceding month and a substantial 3.5 per cent growth compared to the same month in the previous year. Projections for 2023 suggest a robust annual production of 41.5 million tons, signifying a significant 3.6 per cent year-on-year expansion.
