According to the Shanghai Metals Market survey, A00 aluminium ingot price has increased over the weekend for the fifth day in a row by RMB 130 per tonne to reach RMB 18,900 per tonne on December 18. Thus, on a week-on-week basis, China’s primary aluminium ingot price has hiked by RMB 520 per tonne from RMB 18,380 per tonne, attributed to aluminium operating capacity drop, particularly in Yunnan, due to renewable power shortages.
The average prices are estimated to range between RMB 18,880 per tonne and RMB 18,920 per tonne, with a spot contract to be traded at a premium price of RMB 10-50 per tonne.
